A Like-Kind Exchange, also known as a 1031 exchange (referencing the IRS code section), is a transaction that allows individuals and businesses to defer capital gains taxes when exchanging similar types of property. The term “like-kind” refers to the nature or character of the property being...
1.To give something in return for something received; make an exchange. 2.To be received in exchange:At that time the British pound exchanged for $2.80. n. 1.The act or an instance of exchanging:a prisoner exchange; an exchange of greetings. ...
You might be able to minimize the tax hit from depreciation recapture. Potential strategies include purchasing replacement property in a Section 1031 exchange, timing the sale of business property to when you’re in a lower tax bracket, and investing in a Qualified Opportunity Fund. ...
In a 1031 exchange, a property owner can defer capital gains tax by exchanging their investment property for another property of equal or greater value. Legal Terms Similar to Exchange Trade: Similar to exchange, trade refers to the act of exchanging goods or services. However, trade is more ...
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Exchange Privilege: Class A Shares may be exchanged for Class A Shares of any other Fund In any exchange, the shareholder shall receive shares having the same aggregate net asset value as the shares surrendered. Automatic Asset Builder, Payroll Savings Plan, Government Direct Deposit, Dividend Swee...
Free Exchange means an exchange of a Commission Share of one Fund for a Commission Share of another Fund under circumstances where the CDSC which would have been payable in respect of a redemption of the exchanged Commission Share on the date of such exchange is waived and the Commission Share...
The 1031 exchange process can be quite complex, and any missteps can be very costly. Therefore, it may be worthwhile to work with a reputable, full-service1031 exchange company. In general, these companies are much less expensive than paying an attorney by the hour because of their scale, ...
It gets complicated. The rules for a 1031 exchange include a requirement that the proceeds of the property sale be placed in escrow until the like-kind property transaction is finalized. The properties must be considered like-kind by the IRS. There also arecritical deadlinesinvolved. Working with...