With the potential for sweeping changes to tax laws coming down from the new administration in D.C., there is some uncertainty regarding the future of the 1031 Exchange section of the tax code. Is it on the chopping block? Will it face new limitations and restrictions? To discuss these possibilities, we invited 1031 Exchange Specialist and Vice President at IPX 1031, Ron Ricard, to speak atIs our weekly Realtor Roundtable Meeting.
The 1031 Exchange refers to a part of the tax code that has been around for literally 100 years, and it allows investors to defer capital gains tax on the sale of their property by re-investing the money into a new property. It is an incredibly useful tool for real estate investors large and small, and one that those in the real estate world would certainly like to see stick around.
While Ron seems optimistic that the 1031 Exchange will avoid any major gutting from any new tax laws, the future remains unclear. If you’re looking to move your money from one investment property to another without taking a big tax hit, there is no time like the present. Feel free to give Ron a call to discuss your options – he is a fantastic resource for all things 1031 Exchange.
Ron Ricard | Vice President, IPX 1031 | firstname.lastname@example.org | 408.483.1031