1031 Exchange Irs
June 14th, 2009Question: I refinanced a property to purchase another property, can I use the IRS 1031 exchange program?
I live in Arkansas.
Answer: No, that only works if you sell one property and buy a similar property as a replacement, not borrowing on one property to buy another. And in any case, why would you need to use a 1031 exchange? You haven’t sold anything.
1031 Exchange – What is It?
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