Chicago Real Estate

What Is A 1031 Tax Exchange?

Kurt Clements Real Estate Leave a Comment

by Kurt Clements A 1031 tax exchange is a legal way to defer paying capital gains when selling a property and then buying a “like-kind” property within the allowed period. The time limits allowed are 45 calendar days after the close of the sale of the first property to identify the like-kind property for acquisition and then close the purchase transaction …