One of the many benefits of a tax-deferred exchange is the ability to defer capital gains taxes when selling and acquiring like-kind real property. This Friday Free for All discusses ways to maximize your tax deferral by minimizing taxable “boot.”Read More
We all know that a tax-deferred exchange allows you to defer capital gain taxes but there is another strategy to help you get a great return on investment and tap into your equity. Today’s Thankful Thursday is about refinancing to pull equity out of your replacement property.Read More
While it may seem a little crazy to use this Tuesday Tip to discuss when you must report your 1031 tax-deferred exchange, many exchangers who filed for an extension are just now starting to work on their 2011 returns.
This Tuesday’s Tip is to help you maximize your tax deferral. When completing a 1031 exchange, in order to maximize the tax deferral, you must reinvest the value and equity you had in your relinquished property. Essentially, IRS looks at your replacement property as a continuation of your relinquished property.