1031 Exchange
What is the 1031 Exchange?
A 1031 Exchange lets you swap investment properties while deferring capital gains taxes. It’s a complex process with strict IRS rules, but Fortune Associates has the expertise to guide you through it. We’ll assemble a team of professionals to ensure compliance and help you find the perfect exchange property anywhere in the U.S.
Why Lose on a Property Sale When You Can Gain with a 1031 Exchange?
Selling Property Without a 1031 Exchange:
When you sell a property without using a 1031 Exchange, you typically receive cash from the sale and may be subject to capital gains taxes on the profit. Capital gains taxes are calculated based on the difference between the sale price and your original purchase price (adjusted for any improvements or depreciation).
Selling Property Using a 1031 Exchange
A 1031 Exchange allows you to defer paying capital gains taxes by reinvesting the proceeds from the sale of one property into another, like-kind property. To qualify, you must identify a replacement property within 45 days of the sale of the original property and complete the purchase within 180 days.
