1031 Exchange 1.0 |
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A key fact about 10310 exchanges is that you cannot use the proceeds to make improvements on land you already own. This is a common pitfall for unwary real estate investors. In order to qualify for tax deferment, the replacement property must be of like kind with the property it is replacing. If you give up real estate, the replacement property must also constitute real estate, valued at or above the value of the property sold. An...
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