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re: 1031 Exchange Rules are terrible
Posted on 11/10/23 at 10:04 am to sidewalkside
Posted on 11/10/23 at 10:04 am to sidewalkside
the idea is to keep your capital in real estate, not on the sidelines, no? I don't see the issue...
2
Posted on 11/10/23 at 10:06 am to ThisWayChad
quote:
the idea is to keep your capital in real estate,
The idea is the avoid paying taxes on your CAPITAL GAINS...why should you have to reinvest your original capital to avoid paying taxes only on gains? You should be able to only reinvest the actual gains
Posted on 11/10/23 at 10:19 am to ThisWayChad
It’s more about the freedom to do what you want with your own money. No where in our constitution would this law be acceptable. It’s criminal. If you make 200k on a house and downsize to have no house note, you should have that freedom. The money has been taxed multiple times already.
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