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Have you thought about a career in Sociology? MiraCosta faculty member, Sean Davis, explains what you can do with a career in sociology.

One of the questions we often hear is "What is a 1031 Exchange?"
The sale of a rental property generally triggers capital gains taxes. A "1031 Exchange" is
a way to defer the payment of these taxes. The term 1031 Exchange is named after Section
1031 of the Internal Revenue Code. Typically, 1031 Exchanges involve the sale of rental
or investment real estate. You can also 1031 Exchange personal property such as airplanes,
boats, artwork, livestock and much more. The benefit to you is that you get to build

wealth faster by keeping all of your money working for you instead of paying taxes.
There are specific requirements you must follow to qualify for tax-deferred exchange treatment.
In order to defer all of your taxes, you must reinvest in one or more properties of equal
or greater value. You must identify your replacement property and complete your exchange within
specific time frames.
1031 Exchanges are complex, that's why you need an expert! Call Exeter 1031 at 1-619-239-3091

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