Skip to content
Tax Tips 1:00 Audio disclaimer

From the archive: tax rules, deadlines, and show schedules reflect the original recording and may have changed.

Dr. Friday Tax Tips - One Minute Moment

What Is A 1031 Exchange?

0:00 01:00

Dr. Friday 0:00
Good day. I’m Dr. Friday president of Dr. Friday’s tax and financial firm. To get more info go to www.drfriday.com. This is a one-minute moment.

Dr. Friday 0:12
One of my favorite tax rulings is a 1031 exchange. That would be as if you have a rental property and let’s say maybe you live in Utah and you move to Tennessee and so you decide to sell that one and you want to have another rental property here in Tennessee. You might want to sell the one in there and exchange it so that there’s no tax consequence to you at this time. You can do this on farmland, commercial, any kind of rental or investment properties. This is a great way to continuously grow your money. Think of it like a 401k where you keep tax dollars in your real estate. If you need help, go to drfriday.com.

Announcer 0:52
You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

Ask Dr. Friday

Have a tax question of your own?

Send it in. Questions may be answered on an upcoming episode or video, first name only.

Send Dr. Friday a message

Tell us a little about what you need and we will get back to you quickly.

Book Dr. Friday for your event

Share the date, audience, and topic you have in mind. We will respond as quickly as possible.

Please give us as many details as possible about your event, and any questions that you may have for Dr. Friday. We will respond as quickly as possible. Thank you!

Try “IRS letter”, “1099”, “home office”, or “bookkeeping”.