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Updated almost 9 years ago,

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8,666
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Jon Klaus
  • Developer
  • Garland, TX
4,014
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8,666
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Bought with long term intent, but things changed...

Jon Klaus
  • Developer
  • Garland, TX
Posted

I bought a single tenant commercial building in June of 2015.  I planned to hold long term.  The month to month tenant just moved out last month, so I've been marketing to find another tenant and have some good possibilities.  

I just received an unsolicited offer to sell the building.  I'm thinking of negotiating the sale.  It will probably be less than a one year hold if I'm successful.   Can the transaction qualify for a 1031 exchange?  Or long term capital gains tax treatment, given the original intent?

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