1031 Exchange Explained | Emerald Coast Destin Florida

The 1031 exchange...explained!

There is a lot of buzz about the 1031 exchange right now. I have personally closed some deals and lost some deals because of it and the uncertainty surrounding it at the end of 2020.

I would like to start by disclosing that I am not an accountant, tax attorney, nor am I a financial advisor. I do sell real estate along the Emerald Coast Destin Florida so I do need to be able to answer some basic questions about the 1031 exchange rules and explain some 1031 exchange examples.
A 1031 exchange is the trade or sale of one property for the trade or purchase of another like-kind property...and...capital gains taxes are deferred!
Florida Realtors Association says that the “Tax-deferred exchanges give businesses – and ordinary people – much more flexibility and liquidity than they would otherwise have in reallocating their investments.”
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I am a full-time Real Estate Agent and long time local in Destin, FL. I love where I live and I love what I do. My biggest joy is helping others attain the working-living beach lifestyle that I have grown up with. I am a mother to a great kid, a wife to an amazing husband, and we all co-parent Rocco, a fluffy Golden Doodle.

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