The 1031 exchange can be an important tool for deferring tax burdens when buying and selling “like-kind” investment properties, according to panelists at the REALTORS® Conference & Expo session, “1031 Exchange: Another Tool in Your Toolbox.”
Illinois REALTORS® President-elect Dan Wagner was among the panelists. He is the senior vice president of government relations for the Oak Brook-based Inland Real Estate Group of Companies.
The 1031 exchange option can allow investment property owners to defer taxes such as capital gains taxes, state taxes and more when they sell one investment property and buy another qualifying property. Another option is investing through a Delaware Statutory Trust, of DST.
Want to learn more about the 1031 exchange? Conference Live 2017 interviewed Wagner before his session about what’s new on the 1031 front. Some good news is that the latest federal tax reform proposals do not include any changes to the 1031 exchange option, he said.