Will a 1031 Property Exchange Solve your Problems?
Author: Paula Straub
If your problem is listed below, a 1031 exchange may or may not be your solution.
1. Are you a landlord that doesn't want to manage property anymore? 2. Do you want to sell your investment property, but don't want to pay huge amounts of Capital Gains Tax? 3. Is your current income property not producing enough income? 4. Do you have a low adjusted basis and not much debt on your rental? 5. Is your credit rating less than perfect?
If you answered yes to any of the above 5 questions, a traditional 1031 property exchange into another like-kind property might just put you right back to square one!
Let's address each of the 5 problems one at a time.
1. If you exchange your curr...
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