1031 Ask.com: More News For 1031 Exchange & Tax Savings Help

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What Is 1031? also referred to as a 1031 Exchange or Like-Kind Exchange, and falls under Section 1031 of the Internal Revenue Code. This tax section deals with property value in sale of business or trades and other like sales. Contact us to get your property exchange prepared & filed by a qualified Tax Savings professional. Need Help with 1031 issues ? Then contact us now >

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§ 1031. Exchange of property held for productive use or investment...Read more law >

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There are some things that Section 1031 doesn't apply to.

Section 1031 does not apply to exchanges of inventory, stocks, bonds, notes, other securities or evidence of indebtedness, or certain other assets.

1031 Related News

Treasury And IRS Announce Guidance On Like-Kind Home Exchanges
In the case of business property, a property owner generally would not recognize gain upon the exchange of the business property for replacement property of a like kind.

Proposed IRS Rule Would Devastate Small Businesses, Hike Costs for Property Investors
Changes to section 1031 of the Internal Revenue Code would give a monopolistic advantage to large financial institutions at the expense of hundreds of small businesses

Read More News >

Terms about 1031

Like-Kind Property

Definition:
A tax term used in certain real property exchanges. Property must be exchanged for like-kind property and the tax consequences postponed pursuant to Section 1031 of the Internal Revenue Code.

Negative Amortization

Definition:
A situation in which a borrower is paying less interest than what is actually being charged for a mortgage loan. The unpaid interest is added to the loan's principal. The borrower may end up owing more than the original amount of the mortgage.

Operating Expenses

Definition:
The actual cost of operating income - producing property, including utilities and similar day-to-day expenses, taxes, insurance and reserves for the replacement of items that wear out.

See More Terms >

More News related to 1031 issues

Like-Kind Exchanges Real Estate Tax Tips
Section 1031 does not apply to exchanges of inventory, stocks, bonds, notes, other securities or evidence of indebtedness, or certain other assets.

IRS Tax Deferred Exchange
Acquisition of property by an exchange facilitator in connection with a section 1031 tax deferred exchange is subject to the real estate excise tax

Deferred Exchanges Of Like Kind Property
Like-kind property can be a variety of business property, not just real estate; it can be any property held for productive use in a trade or business or for investment.

Did You Know ?
There are some things that Section 1031 doesn't apply to. Section 1031 does not apply to exchanges of inventory, stocks, bonds, notes, other securities or evidence of indebtedness, or certain other assets.

Need to get more information about Tax Savings & 1031 issues? Then click here to contact us.