Weston Banks 1031
Weston Banks 1031
Defer Capital Gains Tax
Section 1031 of the internal revenue code provides an effective strategy for deferring the capital gains tax that may arise for your business/investment property sale. By exchanging the property for like-kind real estate, property owners may defer their tax and use all of the proceeds for the purchase of replacement property. Like-kind real estate includes business/investment property, but not the property owner’s primary residence. Section 1031 does not apply to the exchange of stocks or bonds.
Weston Banks Wealth Partners has experience in using a Delaware Statutory Trust (DST). A DST is a separate legal entity created as a trust under Delaware statutory law. The use of a DST helps defer management, taxes and is a syndicated program under the law. For more information on the DST and Section 1031, please give us a call at 919-783-8500.