Defer Tax with a Section 1031 Exchange, but New Limits Apply This Year
When appreciated business assets (such as real estate) are sold, normally tax is owed on the appreciation. But there’s a way to defer this tax: a Section 1031 “like kind” exchange. However, the Tax Cuts and Jobs Act (TCJA) reduces the types of property eligible for this favorable tax treatment. What is a like-kind exchange? […]
