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A 1031 exchange gets its name from being defined in Section 1031 of the IRS Code, and it is in essence, a strategy which legally permits an investor to defer paying capital gains taxes on any sold investment property, assuming that another like-kind property is purchased using profits from the sold property. Although the tax savings aspect is often the aspect most strongly considered by participants, it isn’t the only advantage which falls to the investor. It also allows you to shift your investment focus without getting hit by the tax liability.
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