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Updated over 10 years ago,
1031 in MA
Hey guys,
I feel like I've asked this question a million times and the answer is no. But I want to minimize my tax burden on a house I am in the process of flipping. I am only planning to hold the house for 3 months and I am going to reinvest the profits into a multi family or another flip. Ideally id do a 1031 exchange but does anyone know on the requirements for holding and renting it etc?
Any other tax saving strategies that have worked for you? I am in the Massachusetts area.
Thanks,
Mike