Welcome - Get the best real estate listings & homes for sale, expert advice, local info, and much more from a Crown Point, Schereville and St. John, Indiana NUMBER1EXPERT(S) Top Selling real estate agent(s). Contact The Jim Moore Group today! Find Crown Point, Schereville and St. John Homes - Find Crown Point, Schereville and St. John, Indiana real estate listings & homes for sale provided by The Jim Moore Group, your local expert real estate agent(s). For Home Buyers - Get home buying information, the latest listings, mortgage information, expert advice, and much more from The Jim Moore Group, a Crown Point, Schereville and St. John, Indiana NUMBER1EXPERT(S) Top Selling real estate agent(s). For Home Sellers - Get home selling information, fsbo information, expert advice, find out what your home and other homes in your neighborhood are selling for, and much more from The Jim Moore Group, Crown Point, Schereville and St. John, Indiana NUMBER1EXPERT(S) Top Selling real estate agent(s). Crown Point, Schereville and St. John Information - Find local information on Crown Point, Schereville and St. John, Indiana including schools reports, local maps and links, things to do, area photos, and relocation information. Local information provided by The Jim Moore Group, NUMBER1EXPERT(S) Top Selling real estate agent(s). Real Estate Resources - Find real estate related resources including real estate news, tips, dictionary, trivia, mortgage calculators and information, local real estate related services, and much more from The Jim Moore Group, Crown Point, Schereville and St. John, Indiana NUMBER1EXPERT(S) Top Selling real estate agent(s). About The Jim Moore Group - Information about The Jim Moore Group including testimonials, guarantees, credentials, and contact information. Learn about NUMBER1EXPERT(S) Top Selling real estate agent(s) like The Jim Moore Group in the Crown Point, Schereville and St. John, Indiana area. 
Please Sign Up For The Latest Listings and the Latest Real Estate News
Tax Considerations >New 1031 Exchange Rules
One of the most popular "tax deferring" strategies for real estate owners who are selling one property and acquiring another is the use of Section 1031 of the Internal Revenue Code. It is an effective way to defer paying income tax on capital gain generated by the sale of a property when you intend to reinvest the proceeds in a similar, "like-kind" property. Almost any kind of real property is considered "like-kind" with any other real property.
A recently enacted law closes what was considered a loophole in the Section 1031 rules. In some cases, owners of investment real estate have used the 1031 Exchange to swap their investment property for real estate that could be readily converted to an owner-occupied residential property. After the exchange, they made the property into their principal residence, lived in it for a couple of years, then sold it. Now the American Job Creation Act of 2004 has ruled that properties converted from a 1031 exchange property into a residence must be held and used as a principal residence for at least five years to qualify for the tax exemption. Otherwise, the basic tax-deferring benefits of 1031 exchanges remain the same.
Consult your tax advisor for more detailed information.
|
| Q |
Where is the world's largest art gallery?
|
| A |
At the Winter Palace and Hermitage in St. Petersburg, Russia, visitors would have to walk 15 miles to see the 322 galleries which house almost 3 million works of art.
|
 See More Real Estate Trivia > |
|
NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT 
