Accruit Senior Director Brendan Lewis Hosts Webinar, Concepts of 1031 Tax-Deferred Exchange
A Internal Revenue Code Section 1031 states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held for productive use in a trade or business or for investment." 1031 Exchange , also known as a Starker Trust or Tax-Deferred Exchange, is one of the most popular tax strategies available when selling and buying real estate “held for productive use in a trade or business or for investment.” By structuring the sale and purchase of property as an exchange, the owner can potentially reduce the recognized tax gain to zero. By reducing the taxes owed to the government, more cash is available for the purchase of new property. Accruit is a national leading qualified intermediary and provider of 1031 like-kind exchanges and 1031 managed services. With our modern technology and industry-leading specialists, you can be confident that the job will be done to the highest standards.