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Does the taxpayer need to be a US Citizen to complete a Section 1031 exchange?

April 26, 2017Citizen COMPLETE section taxpayer

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Does the taxpayer need to be a US Citizen to complete a Section 1031 exchange?

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No, although the property exchanged must be in the United States, a foreign national taxpayer/company who owns investment property in the United States may also use the Section 1031 exchange process to defer capital gain taxes on their properties.