Posted by Addison_Cooper
Lawyers and Legal Consultants
When you sell a business or investment property you may have an overall gain, you generally have to pay tax on the gain at the time of sale. IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain, if you reinvest the proceeds in similar property as part of a qualifying “like-kind” exchange. For more information, visit Davidjfrankslaw.com.