A 1031 exchange (also called a like-kind exchange or Starker exchange) is a tax-deferred strategy under IRS Section 1031 that allows real estate investors in Key West, FL to defer capital gains taxes when selling an investment property by reinvesting the proceeds into another like-kind property.
How Does a 1031 Exchange Work in Key West, FL?
A 1031 exchange helps investors in Key West, FL defer capital gains taxes by following specific IRS rules, including reinvesting in like-kind properties and meeting strict deadlines.