|
Home Real Estate Forum Home 
|
The Georgia 1031 ExchangeAll listings are the responsiblity of the posters; keep in mind, anyone can post anything! |
 us |
|
| ||
|
Home Real Estate Forum Home
|
The Georgia 1031 ExchangeAll listings are the responsiblity of the posters; keep in mind, anyone can post anything! |
us |
|
| ||
|
Advertisement: Top Searches: • 1031 exchange georgia • georgia real estate swap • georgia realestate swap • 1031 exchange in georgia • real estate swap georgia • 1031 property exchange georgia • georgia tax laws for 1031 exchange • the real estate exchange in georgia • georgia 1031 exchange • 1031 exchange properties georgia • real estate exchange georgia • laws for swapping property in ga • georgia laws on rental property • 1031 exchange ga • what is a 1031 exchange in georgia • georgia real estate and 1031 exchange • car wash georgia in link exchange • does georgia allow 1031 exchanges • 1031 exchange and georgia • real estate 1031 exchange listings georgia • like kind exchange georgia law • 1031 exchange banks ga • 1031 real estate exchange in georgia • ga real estate exchange • georgia tax deferred exchange • how to do a 1031 exchange in georgia • add url real estate georgia • |
Real Estate ArticlesThe Georgia 1031 Exchange
Like many people in Georgia, you own rental property that over the years has increased in value. Now you find another property that you want. But to afford the new property you need to sell the first location and use the proceeds and reinvest them in the new location. Your gain, however, could be subject to significant taxes. Like most of us you want to avoid a tax bill. If that is the case, a tax deferred 1031 exchange will allow you to buy a new property with the gain or profit and not owe taxes immediately. Usually all gains and losses on sales of real estate are taxable. The exception comes when you trade or exchange one property for "like-kind" property. Since the new property is considered a continuation of the original investment, taxes are not due at the time of sale. While many people think tax deferred exchanges are only for large corporations, anyone in Georgia can take advantage of a 1031 exchange. For example: You purchase a rental home below market, rent it for a year, sell it and buy other property with the gain. To take advantage of a 1031 exchange it is advisable to consult a CPA or attorney familiar with the tax laws. Be advised the IRS will take a dim view if you do a 1031 exchange too many times. The IRS may not consider you a long-term investor and therefore disallow such transactions. The difficulty of a tax deferred 1031 exchange is that the property you are purchasing must be identified as an exchange. A written, signed document identifying the property as an exchange must be prepared and delivered to the party assisting you with the exchange 45 days from the date you sold the original property. If you have complied with the identification part of the 1031 exchange in Georgia, you have 180 days to complete an exchange. Extensions of time are not possible so all documents and closings must be submitted within the allowable time.
You can talk about... The Georgia 1031 Exchange Tags: • rental home • new property • rental property • tax deferred exchanges • georgia • tax laws • 1031 exchange • real estate swap • Related articles:
The Georgia 1031 Exchange Real Estate Articles |
Have you added a link to us from your website? (3630616213):
(rozwqizwipzeqo) Privacy & DMCA Policy -- Sitemap |
