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1031 Exchange // Florida
Before we jump in, let’s go over what a 1031 Exchange is. So, a 1031 exchange can allow you to defer taxes when you sell an investment and profit from the sale, given that you reinvest the sale proceeds into another like-kind investment, such as real estate! A 1031 exchange usually involves the sale of vacation, rental, or investment properties, but it can also involve the sale of personal property, like yachts, planes, artwork, etc.
Now that you have a brief overview of what a 1031 Exchange is and when it might apply, let’s discuss six important things to know about 1031 Exchanges in Florida.
Adam Hancock is a Realtor and owner of Experience SRQ, a group focused on hyper local coverage of Sarasota FL, Manatee FL and surrounding. He has an extensive background in finance, investing, and deep first-hand knowledge of much of Florida’s Gulf Coast. Currently serving several counties all up and down the SW Florida coast; Adam’s team is prepared to help you smoothly complete your relocation or locally sell your Florida home faster and for more money!
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