SamsungShineBrightnessRadiance
Fri Aug 09 2024
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5 answers
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Should you do a tenants in common 1031 exchange?
Should you consider a tenants in common 1031 exchange for your investment properties? It's a complex strategy that involves owning real estate with one or more partners, and using the proceeds from the sale of one property to invest in another like-kind property while deferring capital gains taxes. But is it right for you? It depends on your unique financial situation, investment goals, and risk tolerance. You'll need to weigh the potential benefits, such as tax savings and increased diversification, against the potential drawbacks, like complexity and the need for trust and cooperation with your partners. Before making a decision, it's crucial to consult with a qualified tax professional and financial advisor to ensure that this strategy aligns with your overall financial plan.
