Section 1031
Section 1031
Section 1031 is the part of U.S. tax law that defines a method for investors to defer capital gains taxes. Such deferral is allowed when the appreciated property is exchanged for a "like-kind" property that's to be used for business or investment purposes. An investor, for example, may sell one rental property and buy another with no tax effect. If the second property is sold with no corresponding reinvestment, taxes would then be assessed. The gain is calculated from the cost basis of the original investment.
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