Providing Pennsylvania investors with 1031 Exchange replacement properties guidance, FAQ, rules and 1031 Exchange listings. 1031 exchanges allow real estate investors to reinvest in new properties, preserve capital, and optimize their investment portfolios under IRC Section 1031.Pennsylvania 1031 Exchange rules allow investors to defer capital gains on sale of qualified property if exchanged for like-kind property. Generally, if you make a likekind exchange, you are not required to recognize a gain or loss under Internal Revenue Code Section 1031. Recognition of 1031 exchanges was included in Pennsylvania legislation this year and will take effect on exchanges initiated after Jan. All 1031 exchanges report on Form 8824. If you need to file an extension, use Form 4868. Violation to transfer funds into or out of the United States with the intent to violate U.S. income tax laws. Proceeds from another real estate transaction in a 1031 exchange toward the development of the 13th. Street Property. (Id.