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Tax Exchange Package Louisiana  Form

Tax Exchange Package Louisiana Form

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hi this is joe from prep agent when dealing with real estate we often hear the term capital gain what exactly does that mean a capital gain refers to profit that results from the sale of capital assets like stocks bonds and real estate if the sales price exceeds the purchase price the profit is called a capital gain these types of profits are often subject to hefty taxes this is where a 1031 exchange can be helpful because it helps you defer those taxes named after section 1031 of the Internal Revenue Code 10300 state exam there are also something you should understand in real estate practice as they can really give you a leg up on your competition to start with there are specific requirements which must be met for a 1031 tax deferred exchange in order to defer all your taxes you must reinvest in another property of equal or greater value tax deferred exchanges cannot be used for personal properties and under new laws enacted in December 2017 only real property qualifies for a 1031 exc

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