North Carolina 1031 Exchange rules allow investors to defer capital gains on sale of qualified property if exchanged for like-kind property. Reporting a 1031 exchange on a tax return is a meticulous process.Specific IRS forms must be filled out to properly document the transaction. 1031 exchanges allow North Carolina real estate investors to defer capital gains with a like-kind replacement property. A 1031 tax deferred exchange allows you to sell one property, purchase another, and have the "gain" carried forward. Providing North Carolina investors with 1031 Exchange replacement properties guidance, FAQ, rules and 1031 Exchange listings. 1031 Exchanges in North Carolina have been a large portion of Asset Preservation's taxdeferred exchange activity. A 1031 Exchange addendum functions to serve two primary goals. Step 1: While contemplating the sale of an investment property, contact 1031 Pros. A 1031 Exchange addendum functions to serve two primary goals.