About Reverse 1031 Exchange Davenport IA

When you sell a business, farmland or investment property you may have an overall gain, you generally have to pay tax on the gain at the time of sale. IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain, if you reinvest the proceeds in similar property as part of a qualifying “like-kind” exchange. Capital gains in a 1031 Like-Kind Exchange are tax-deferred.