Tax
Apr. 16, 2011
Even Internal Revenue Code Section 1031 Exchanges Have Tax Traps
Section 1031 of the tax code lets you defer capital gains taxes when swapping investment assets.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Virtually every Californian knows something about Internal Revenue Code Section 1031. Even if you know no other tax code section by number or description, you likely know about Section 1031. It's the ubiquitous provision that expressly permits swaps of one business or investment asset for another without tax.
This tax code section is bandied about by lawyers, realtors, title companies, investors and the public. Some people even ma...
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