The Cooper Advantage group has deep experience with 1031 exchanges having navigated the process for our clients many times. 1031 exchanges are a great way to defer the capital gains you may realize in the sale of a non-homestead property. The rules and timelines are strict, so it's important to have a real estate broker with the right experience that can help guide you through the process.

1031 Exchange Defined

Section 1031 of the IRS tax code allows investors to sell investment property and use all of the proceeds to purchase new investment property while deferring taxes associated with the sale. To qualify as an exchange, the relinquished and replacement properties must be qualified “like-kind” properties and the transaction must be properly structured as an exchange. “Like-kind” relinquished property and replacement properties must be real property that has been and will be held for productive use in the investor’s trade or business or for investment.