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Updated almost 15 years ago,

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689
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23
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Lynn Z
23
Votes |
689
Posts

Period before place replacement in service?

Lynn Z
Posted

The period of renovation after you do a 1031 exchange---if you don't place the investment property in service for six months and start your depreciation at that time why isn't that period of time counted as residential months?

I've moved in my 1031 and establishing residency, I realize the 1031 has to be held 5 years if you take the capital gains exclusion but how do you count the months of rehab before you place the investment property in service? Can those months possibly be residential?

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