113. What is a 1031 Exchange and How Does it Work
I’m Amanda Hanquist, the Fit Financial, today we’re diving into a topic that is crucial for any serious investor to know. The 1031 exchange, what is it, who is it for and what you need to know. This powerful tool allows you to defer capital gains taxes on the sale of investment property by shifting the taxable gains from one property to another. In this episode, we’ll breakdown the fundamentals of the 1031 exchange, while giving you some less familiar strategies that you keep in your toolbelt. Whether you're new to this or a seasoned entrepreneur, the 1031 exchange is a strategy you need to know.
Named after Section 1031 of the U.S. Internal Revenue Code, allows an investor to defer paying capital gains taxes on the sale of certain types of property if they reinvest the proceeds into a similar property.
- 1031 Exchange and Tax Deferral
- Who is it for, when to use it
- What does "like-kind" property mean
- How real estate agents could benefit
- Why Estate Planning is important
- Potential for portfolio diversification
- Different investment opportunities
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IG: Amanda @thefitfinancial_
IG: Shawn @shawnhanquist
The fit financial is brought to you by Fit wealth advisors. Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation.