What Is a 1031 Exchange? Know the Ru…
https://www.investopedia.com/financial-edge/0110/10-things-to-know-about-1031-exchanges.aspx
1031 exchange rules for dummies Properties must be “like-kind”, meaning they are of the same nature or character, but not necessarily of the same quality or grade. Property must be for productive use in a trade or business, not for personal use. Replacement property must be equal or higher in value than the relinquished property. Must use same exchangor, meaning the same taxpayer who sells the relinquished property must buy the replacement property. Identify up to three potential replacement properties within 45 days of selling the relinquished property. Exchange must be done within 180 days of selling the relinquished property. 1. Properties must be “like-kind” ... 2. Property must be for productive use in a trade or business ... 3. Replacement property must be equal or higher in value ...
Properties must be “like-kind”, meaning they are of the same nature or character, but not necessarily of the same quality or grade.
Property must be for productive use in a trade or business, not for personal use.
Replacement property must be equal or higher in value than the relinquished property.
Must use same exchangor, meaning the same taxpayer who sells the relinquished property must buy the replacement property.
Identify up to three potential replacement properties within 45 days of selling the relinquished property.
Exchange must be done within 180 days of selling the relinquished property.
1. Properties must be “like-kind” ...
2. Property must be for productive use in a trade or business ...
3. Replacement property must be equal or higher in value ...
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