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Updated over 8 years ago,

Simon Gill's profile image
Simon Gill's profile image
Simon Gill
  • Investor
  • from Los Angeles, California
  • Member since Sep 1, 2015
Connect

User Stats

56
Posts
7
Votes
Simon Gill's profile image
Simon Gill's profile image
Simon Gill
  • Investor
  • from Los Angeles, California
  • Member since Sep 1, 2015
Connect
Simon Gill
  • Investor
  • Los Angeles, CA
7
Votes |
56
Posts
1031 Exchanges

Selling House Less Than 1 Year...Afraid of Capital Gain Tax HELP!

Simon Gill
  • Investor
  • Los Angeles, CA
Posted

Hello All! 

I have recently bought a house in January 2016 but am considering taking a job offer that would force me to relocate. If I sell this house I will profit, but how can I avoid taxes on this profit? I plan to rent while I get situated at the new place so no plans to buy in the short term.  Can you please advise me couple options on how to avoid capital gain tax?  Do I need to fill out a 1031 exchange and defer the tax on the profit?  I'm not a flipper; however, I read this blog. 

https://www.biggerpockets.com/renewsblog/2014/07/10/paying-taxes-fix-flip-properties/

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