What is a 1031?
October 7th, 2008 by tad
I was recently asked about a 1031 Exchange. Now, to be perfectly honest I have never heard of a 1031 Exchange, so I did what anyone would do in my situation, I looked it up. Here is what I found. Section 1031 is the provision of the Federal Income Tax Code that permits companies and individuals to exchange property of a like-kind without incurring any liability for paying capital gains tax dues. I am not sure what all that means but I am sure that it is a way that people make some real decent money so I am posting abut it here. After all that’s what this blog is all about, business and making money.
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