Louis J. Rogers, founder and CEO of Capital Square Realty Advisors, LLC, is giving a series of online lectures to explain 1031 Exchanges and Delaware Statutory Trust (DST) programs. The last installment of the series airs this evening. So why not vamp up your Friday night with Mr. Rogers as he explains the nuances of these somewhat complex laws with humor and clarity?
As a trained tax attorney with a specialty in structuring 1031 Exchanges, Mr. Rogers has structured billions of dollars of exchanges since 1984. By providing background and defining terms, he helps viewers understand the role of Section 1031 and how it can benefit a variety of people.
Section 1031 provides an exception to the general rule of taxation that governs sales or exchanges of property. It allows one property to be evenly exchanged for another as one furthers their investment.
Mr. Rogers explains that section 1031 is an old law enacted in 1924 and has evolved to accommodate the changing world.
“Congress was probably thinking about Farmer A meeting Farmer B to exchange a part of a hayfield for a part of an orchard,” he states. While the transactions may have changed significantly since then, the benefits remain the same.
In the second class he goes on to explain that the property must be used for business or investment, “No gain or loss is recognized if property is exchanged solely for like kind of property.”
By providing practical examples, Mr. Rogers is able to demonstrate the positive features of a 1031 Exchange.