Like Kind Exchange Rules 2024 Florida. Investors can exchange these properties without incurring any tax. Properties that do qualify for the 1031 exchange in florida include things like raw land exchanged for improved real estate or exchanging a parcel of land for oil and gas.
Section 1031 of the irc defines a 1031 exchange as when you exchange real property used for business or held as an investment solely for another business or investment property that is the same. Investors can exchange these properties without incurring any tax.