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Tax Deferred Exchanges of Property - Mistakes, Misconceptions, and Traps
By: Gilbert F. Dukes, III, Esq.
Many tax deferred exchanges under Section 1031 of the Internal Revenue Code result in an unexpected tax liability — not because the strategy does not work, but because of incorrect advice, common misconceptions, or simple mistakes that could have been avoided with proper guidance.
In this article, Gil Dukes draws on decades of experience as a qualified intermediary and practicing attorney to walk investors through the most common pitfalls of a 1031 exchange. From the basic definition of an exchange to the complex mechanics of reverse and improvement exchanges, this article covers the rules, the traps, and the practical considerations every investor and adviser should understand before proceeding.
Whether you are a first time exchanger or a seasoned investor, this article is an essential resource for anyone considering a 1031 exchange.