What is a 1031 Exchange?

Under Section 1031 of the United States Internal Revenue Code (26 U.S.C. § 1031), the exchange of certain types of property may defer the recognition of capital gains or losses due upon sale, and hence defer any capital gains taxes otherwise due.Please call James Morris Broker General Contractor to learn more about if a 1031 Exchange is right for you, when it comes time to sell your property.