In 1031 Exchanges Can I Defer Taxes on Property I Own Free and Clear?


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In 1031 Exchanges Can I Defer Taxes on Property I Own Free and Clear?
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Navigating 1031 exchanges can be a complex process. David Moore of Equity Advantage looks at the 1031 exchange rules and some common misunderstandings to help you understand the ins and outs of the 1031 exchange. Find out whether you can defer taxes on properties you own free and clear. Get the information you need to do things right from the very beginning!

In short, it doesn’t matter if the property has no equity or is owned outright—the exchange is going to defer taxes. If you look at the crash, during that crash period we did a number of transactions where there were foreclosures or short sales. No money would come in to us, yet the taxpayer had a question: Do I want to pay tax or do I want to come out-of-pocket roughly the same amount of money and go buy something?

For more on this topic head to 1031exchange.com now!