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Updated over 5 years ago on . Most recent reply
1031 Tax Deferred Exchange
I met with a real estate broker today (commercial agent) and he mentioned that the tax deferred exchange only applied to properties that are worth more than 300k, and it is mainly used for commercial properties. Is this true? Any thoughts?
Most Popular Reply
Originally posted by @Kayla Holbert:
I met with a real estate broker today (commercial agent) and he mentioned that the tax deferred exchange only applied to properties that are worth more than 300k, and it is mainly used for commercial properties. Is this true? Any thoughts?
NO, not true on both. Here are information on 1031's, and the types of exchanges you can do, and you can definitely do residential properties: 1031 exchanges
Though there are tax law changes, I haven't heard of one that places a $300K floor on it.