1031 exchange:
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The tax code has been changed and these have a bearing on 1031x transactions:
Capital gains tax rate on assets held longer than one year is reduced from 20% to 15%.
Capital gains tax rate on assets held less than one year is unchanged and will be treated as ordinary income.
Capital gains tax rate for taxpayers in the lowest tax brackets is reduced from 10% to 5%.
Recapture of depreciation rate is unchanged and is still 25%.
State of Colorado tax on all of the above is still 4.68%. Check with your state government to determine rates outside of Colorado.
It's still a wise decision to do an exchange instead of paying capital gains taxes. For example, appreciation of $200,000 in real estate (held more than one year) would still yield a $30,000 tax payment to the federal government.
FAQs
Capital Gains Tax Example An example of how capital gains is estimated in a ...Read More
Can I exchange a business--UPS Store Example It is possible to exchange a business-but there ar ...Read More
Capital Gains State Tax Rates Find the Capital Gains Tax Rate for your state! ...Read More
How Often can I take Advantage of the Tax Exclusion Under IRC section 121? 121 tax exclusion ...Read More
200 Percent Identification Rule What if the property value increases? Is the ID v ...Read More
Subdividing question Can I subdivide? ...Read More
Tax Free Cash How can I take cash out? ...Read More
Capital Gains Exclusion??? Mixing up Section 121 and Section 1031 ...Read More
More on Capital Gains Question about Capital Gains. ...Read More
Taking Cash Out of a 1031 exchange What about taking cash out of a 1031 exchange? ...Read More
Accumulated Depreciation How do I handle depreciation? ...Read More
Lease Options How do I handle rent money? ...Read More
Dual Use of Property Primary residence and? ...Read More
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