This article provides a very brief and introductory framework or primer on the Internal Revenue Code Section 1031 (IRC§1031) exchange.

In 2010 the estate tax will be repealed and the gift tax rate will fall to 35%. However, this repeal is effective only for that year and the estate tax will be reinstated in some form the very next year (2011). The US Senate is considering options to reduce or eliminate the estate tax. Currently, the estate tax only applies to fortunes over $2 million (at 46%) and is estimated to affect 12,600 taxpayers in 2006.