Are Your Mineral Rights Exchangeable
Did you know the opportunity to legally avoid paying capital gains tax on proceeds from the sale of real property can apply to mineral interests? This article includes a helpful description of several types of mineral rights, and whether they are “exchangeable” under Internal Revenue Code Section 1031.
Don’t Miss the Expiration Date On Not Paying Capital Gains Tax
Did you know the opportunity to legally avoid paying capital gains tax on proceeds from the sale of real property has an expiration date? Under Internal Revenue Code Section 1031, you must follow specific procedures to identify replacement property within 45 days after the property being given up is transferred. Also, you must receive the […]
Legally Defer Paying Capital Gains Tax
Did you know that under the right circumstances you can legally avoid paying capital gains tax on proceeds from the sale of real property? As a general rule, under Internal Revenue Code Section 1031 you are not required to recognize a gain or loss when you exchange real property held for productive use in a trade or […]