If you own real estate and are looking for ideas on how you potentially could reduce your tax exposure when you sell, you’ve come to a helpful source of information. Like-kind exchanges are one popular strategy and are also often called 1031 exchanges, referring to the section of the tax code where they are described.
Sol Schwartz & Associates offers a number of background articles on 1031 exchanges that might be helpful to your planning. In addition, if you need accounting and tax help with your real estate matters, be they 1031 exchanges or not, our CPAs have been assisting clients with a wide range of real estate tax issues since we opened our doors in 1980. Just leave us your contact information at the bottom of this article if you’d like us to discuss your specific situation.
Below are some of the articles we have published that address 1031 exchanges and related tax questions. Be aware that tax laws and regulations change over time and that some of the details noted in these articles may have evolved since they were originally published.
- Time may be right for 1031 exchange strategy
- Converting a home to a rental: Know the tax implications
- Selling your home? Consider these tax implications
- IRS issues final QBI deduction regulations