The 1031 Exchange: A Great Asset Building Tool

Derived from Section 1031 of the Internal Revenue Code, a 1031 exchange allows a taxpayer to sell income, investment or business property and replace it with a like-kind. property  (Elizabeth Weintraub, The Balance). Say you purchased an investment property for $50,000, and after 5 years you were able to sell it for $100,000. Rather than pay the … Read more