From the Money Matters Desk: Trading Spaces
You've got a country cottage. They've got a coastal condo. Can you trade deeds? On this week's Money Matters -- our regular look at how to improve your bottom line -- real estate expert Elizabeth Razzi explains the rules of property swaps.
You've got a bungalow. They've got a brownstone. You need a new place. So you're thinkin'...why not swap? Is that legal? In certain cases, you betcha. And what's better... no one has to pay capital gains tax. You just need to do what's called a 1031 Exchange. Ahhh... but there's a catch. With a name like "1031" you knew there would be. (Photo: Justin Sullivan / (c) Getty Images)
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