Welcome back old friend! Yes, we have seen a re-emergence of theblessed 1031 tax-deferred exchange in recent weeks, and what awelcome sight it is.
The opportunity to protect hard earned equity in the sale of aninvestment has been available to investors since 1921. However,this part of the tax code was so complex that only a small segmentof the investment community took advantage of this mechanism.
In 1990, the Omnibus Budget Act provided more widespread accessto a broader set of investors as this option was clarified andsimplified. Section 1031 exchanges are often mischaracterized as"tax free" when they are actually "tax deferred".
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