1031 Exchange

IRS Section 1031.

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The section of the IRS code which deals with tax-free exchanges of certain property is Section 1031.The general rules for tax-free exchanges are that the properties must be exchanged, similar, and used as an investment or for business. A 1031 exchange is also called a like-kind exchange.

See IRS website for more information: Like-Kind Exchanges - Real Estate Tax Tips.

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