Section 1031 exchanges are for deferral of state and federal taxes on sale of commercial real estate investment or business real estate. Check out this video and get a terrific, concise backgrounder on the history and concepts of 1031 exchanges from tax attorney Louis Rogers, CEO of Capital Square Holdings, who actually brings along his original 1984 research notebooks on the topic. Great stuff!
While I do take issue with the idea presented that taxes are “gone forever” once paid — find me the commercial property that doesn’t benefit from its access to publicly financed infrastructure, after all — Mr. Rogers is a compelling presenter with a plain command of this topic and this clip is absolutely worth a look.
By: Wayne Grohl (The Source)
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