If you are selling an investment property, the proceeds from the sale are subject to capital gains taxes unless you follow the rules of a 1031 exchange. A misunderstanding or mistake in following any of the rules could be costly, as your sale becomes a taxable event with anywhere from 20 to 35 percent of[…] Read More
Category: Business Law
Can I Do a 1031 Exchange on an Inherited Property?
If you have just inherited a property, not knowing your options could cost you. Real estate for novice investors can be complicated. In the case of inherited property, the value of the property and what it is used for, including money owed, the money gained, and taxes, play an essential role and can cause headaches[…] Read More