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About Kathy Potter - Information about Kathy Potter of Fort Leonard Wood, Waynesville and St. Robert, Missouri Agent Relationships - Click here for more information... Testimonials - Read what Kathy Potter's clients are saying about the real estate marketing and services provided. Quick Response Guarantee - A quick response to your email request for more Missouri home buying & property selling information is guaranteed by Kathy Potter. Privacy Guarantee - This Fort Leonard Wood, Waynesville and St. Robert real estate web site will respect your privacy, guaranteed by Kathy Potter. No Obligation Guarantee - Kathy Potter's real estate help by email is free & without obligation for Fort Leonard Wood, Waynesville and St. Robert home owners in Missouri. For Real Estate Agents - Let Kathy Potter help you with your professional real estate broker and agent needs in the Fort Leonard Wood, Waynesville and St. Robert area. About NUMBER1EXPERTS™ - NUMBER1EXPERTS™ are top real estate professionals, find out more. Contact Information - How to contact Kathy Potter. Go to Main Sitemap - Main sitemap sections include Find Fort Leonard Wood, Waynesville and St. Robert Homes, For Home Buyers, For Home Sellers, Fort Leonard Wood, Waynesville and St. Robert Information, Real Estate Resources, and About Kathy Potter. 
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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.
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| Q |
Where is the world's largest bridge located?
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| A |
Lake Pontchartrain Causeway at New Orleans, Louisiana is the world's largest bridge. It is almost 24 miles long. |
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