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1031 Exchanges What You Didnt Know. 401k is just about as far as most people get when it comes to Internal Revenue Code. There is a section of tax code named 401k, the namesake of your retirement plan. What is 1031 some people might ask. The process of exchanging one asset for another here. Cashing out allow the investment to grow, tax deferred. You must follow some rules when property is being exchanged in a 1031 case. 1031 is not allowed to be used on personal taxes. Like-Kind is a very broad term.CONTENT
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