Real estate is one of the most powerful wealth building assets available for the everyday person. And there is so much to learn about how to harness special laws and tax benefits that are only available to property owners.
So what are some of those special benefits? One really important one is commonly called the 1031 Exchange. This is where, under Section 1031 of the United State Internal Revenue Code (26 USC 1031), a taxpayer may defer recognition of capital gains on certain types of property.
Before 2018, a wide array of property was covered by the deferment provisions of Section 1031. The Tax Cuts and Jobs Act of 2017 repealed Section 1031 for all types of property except real property. And what is real property? Why, real estate, of course!
To qualify for Section 1031 of the Internal Revenue Code, the properties exchanged must be held for productive use in a trade or business, or for investment.
Want to learn more? Want to learn how to defer paying capital gains taxes on investment property you sell?
Then you do not want to miss this educational seminar I’m hosting this Saturday November 10 in my office!
1031 Exchange Expert Debbie Skora of the Asset Exchange Company will be hosting and answering all of your great questions!
And we will be coffee and bagels provided by your favorite loan officer Rick Loveall of City Wide Home Loans!
Join us this Saturday morning bright and early – 9 am.
Location: Century 21 Masters office – Long Beach – 5150 E Pacific Coast Hwy, #770, Long Beach 90804
Parking: Off Clark Ave (I will be outside 8:45 am to 9:00 am to let you into free underground parking)
Date and Time: Saturday November 10, 2018 @ 9:00 am (come early to get situated)
Please RSVP to NancyD@century21masters.com or 562-472-1435