Buyers - Pinehurst NC Real Estate
1031 Exchange
Tax-deferred exchanges provide an excellent opportunity to minimize your tax burden. A 1031 Exchange allows you to sell a piece of property and then buy new property with the profits without paying taxes on it right away. Only when you sell the new property will you then owe taxes on it. This is not a one-time option. You may utilize the 1031 Exchange tax deferment on subsequent purchases provided the entirety of your profits is used towards the purchase of a property of equal or greater value.
If you have identified properties to invest in, as your Exclusive Buyer Agent, Marion can help you develop a plan for moving forward in a timely manner to maximize your financial benefit. You have up to 180 days to complete an exchange. Property will not be treated as “like kind” property, a stipulation of a 1031 Exchange, if it is received more than 180 days after the transfer of the property you’re selling. It is important to note that the intent for the property must not be for resale, but to hold the replacement property as an investment or for productive use in trade or business.
Please understand that all tax laws are subject to change by the Internal Revenue Service, and that the information in this article is subject to change as a result. Always be sure to seek the advice of a qualified professional when planning your tax-deferred exchange strategy.
To schedule your no obligation appointment to review your
Pinehurst NC Real Estate - Moore County real estate investment portfolio,
contact Marion
now.