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 Martinsville City County, VA 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 Martinsville City County, VA?
A 1031 exchange helps investors in Martinsville City County, VA defer capital gains taxes by following specific IRS rules, including reinvesting in like-kind properties and meeting strict deadlines.