When you sell property, you have to pay taxes on the capital gains. But with a 1031 exchange, you can defer these capital gains taxes, reinvest your net proceeds from the sale of your relinquished property into another like-kind property, and keep your money working for you.
1031 Exchanges in Grand Forks
The Internal Revenue Code governs the rules and regulations of 1031 exchanges. Watch this video to learn the basics of a 1031 tax-deferred exchange:
And 1031 exchanges don’t just apply to real estate. You can also 1031 exchange live stock, aircraft, business equipment, artwork, and more. Contact a skilled qualified intermediary to start your Grand Forks 1031 exchange today – 877.373.1031.