Full Service 1031

Real estate investors may be required to pay capital gain taxes when a property is sold. Under current federal tax law, an IRC §1031 tax-deferred exchange permits the investor to defer the capital gain tax by investing in a “like‐kind” exchange, which is the disposal of an asset and the acquisition of another similar asset without rendering a capital gains tax liability from the sale of the first asset. Any real estate, except an individual's residence, is deemed like-kind to any other real estate.  To enable a 1031 exchange, the investor needs a qualified intermediary (accommodator) to receive and hold the net sales cash proceeds from the sale. Check out Full‐Service 1031, LLC, if you are looking for services related to like-kind exchange in Idaho . Some factors you should keep in mind with a like-kind exchange. And this is to ensure a tax liability is not created upon the sale of the first asset. Read on to learn about them: Ensure the asset sold must be an investment property an