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Posted on July 11, 2019 by Nicole Simmons

Lenhart, Mason & Associates, LLC.
900 Werner Ct, Suite 200
Casper, WY 82601
(307) 234-7800
admin@wyocpa.com

Tax Season Hours:
Monday - Friday: 7:30am - 5:30pm
Saturday: 9:00am - 1:00pm

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Lenhart, Mason & Associates, LLC
4 days ago
Lenhart, Mason & Associates, LLC

A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling it. You can defer tax on your gain through a “like-kind” or Sec. 1031 exchange. A like-kind exchange is a swap of real property held for investment or for productive use in your trade or business for like-kind investment real property or business real property. Like-kind is very broadly defined and most real property is considered to be like-kind with other real property. However, the real property can’t be held primarily for sale. bit.ly/3vedMo4 ... See MoreSee Less

A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling it. You can defer tax on your gain through a “like-kind” or Sec. 1031 exchange. A like-kind exchange is a swap of real property held for investment or for productive use in your trade or business for like-kind investment real property or business real property. Like-kind is very broadly defined and most real property is considered to be like-kind with other real property. However, the real property can’t be held primarily for sale. https://bit.ly/3vedMo4
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