Dario
Thu Aug 08 2024
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7 answers
1666
What is the tax basis for a 1031 exchange?
Could you please explain the tax basis for a 1031 exchange in simple terms? I understand it's a way to defer taxes on the sale of investment properties, but I'm not clear on how the tax basis is calculated and what factors are taken into consideration. Is it based on the value of the property being exchanged, or is there more to it? I'd appreciate any clarification you can provide.
