The Orem, Utah company explains that a 1031 land exchange allows farm, ranch, or orchard sellers go through a transaction without the need to pay federal and state taxes totaling 20 percent to 30 percent.
The Internal Revenue Service (IRS) is specific with the types of properties that qualify for a Section 1031 Exchange. People who need help a suitable replacement can go to 1031 Exchange Place.
By using an IRA to purchase a property structured as a 1031 exchange, clients are able to save more because of the tax deferrals in place. 1031 Exchange Place helps clients with these purchases.