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1031 Exchange Tax Strategy for W-2 Filers and Real Estate Investors
In this episode of How to Lower Your Tax Bill, host Terrence Hutchins breaks down the 1031 exchange process for W-2 earners and real estate investors. As a financial and tax advisor in the Dallas-Fort Worth area, Terrence explains how this strategy helps defer capital gains taxes and maximize tax savings.
What You’ll Learn:
- 1031 Exchange Basics: What it is, how it started, and why the IRS incentivizes real estate reinvestment.
- Key Rules for Success: Same taxpayer requirement, qualifying property types, and investment holding periods.
- Timelines to Remember: 45 days to identify new properties and 180 days to close the transaction.
- Qual ...