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Irs Form Tax

Irs Form Tax

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Instructions and help about 1040 es information

Right now I'm going to walk you through a 1031 Exchange form that you will be submitting to the IRS when you complete your Exchange. And real quick, a 1031 Exchange is when you sell one investment property and buy another investment property with very specific rules and timelines. This will enable you to defer your taxes, sometimes forever, and build generational wealth for your family, just like the big investors do. In this video, we'll be going over the form that your tax preparer will use to report your 1031 Exchange to the IRS. Note here, form number, they're calling it Like-Kind exchanges because you are doing a Like-Kind Exchange and this is under 1031 of the IRS code. And these are the rules for 2022 for the current filing. Several important things. I'm definitely not an accountant or a tax preparer, but I think it's valuable for you to know in advance what things will be on the form that reports your 1031 Exchange. The first thing is it

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