- This event has passed.
March 1 @ 12:00 pm - 1:00 pm
People pay Federal and State taxes when they have gain/profit on the sale of investment property. However, in an even trade (or if the investor trades their investment property in for more-expensive property) there is no income/profits which could be used to pay taxes.
Under some circumstances, investors can use a “Section 1031 exchange” to defer taxes on gains they earn from investment property; however, the IRS restricts these types of exchanges to “like-kind” property, and also establishes conditions (required actions, property value thresholds, time deadlines, etc.) which must be met in order to qualify for tax deferral.
Key topics we’ll discuss include:
- Why an investor would use a Section 1031 exchange
- Mechanics of several types of Section 1031 exchanges
- Ways to avoid common pitfalls during the 1031 process to maximize an investor’s chances to defer taxes on a purchase/sale of investment property.
- Karl Sigwarth is an attorney in Bradley and Riley, PC’s Iowa City office with a practice focused on transactional (real estate and corporate) law. A graduate of Harvard Law School, Karl has a great deal of experience with real estate transactions and is looking forward to talking with the group. A link to Karl’s attorney profile is enclosed here: Karl’s Profile
RSVP to karyl@hbaofic.org, or call (319) 351-5333 by Friday, Feb. 25.
