," the provision gives investors the ability to defer capital gains taxes from the sale of an investment or business use property, as long as a like-kind asset is purchased with the sale's profits.
The exchange is a great strategy for investors looking to swap one asset for another, or for any investors interested in avoiding a capital gains tax of, depending on your bracket, up to 20%. A high-maintenance rental in an expensive city like New York, for example, could be exchanged for a series of lower-maintenance investment properties in more savings-friendly states with lower costs of living. Strict rules dictate 1031 eligibility having to do with the timing of sales and purchases, as well as the types of properties that qualify for use.
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