1031 Hotel Exchange
It is possible to defer taxes with a 1031 hotel exchange when selling your hotel. Section 1031, within the internal revenue code (IRC), prepares for the deferment of the payment of long-term capital gains taxes on the sale of qualified real estate. A major reason for completing a 1031 hotel exchange is to defer the income tax you would have to pay on the sale of your hotel. Note that not all income received is eligible under a 1031 exchange. The law offices of Craig M. Dorne, PA will work closely with your accountants and other tax professionals to help you utilize the 1031 exchange.
The rules of the 1031 hotel exchange can be complicated, but they should not be avoided. To maximize your success, please contact the law office of Craig M. Dorne, PA located at 2655 S. Le Jeune Road, PH 2C, Coral Gables, Florida 33134, Phone: (305) 531-7890. You can also contact us via our web form.