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Updated about 12 years ago, 09/15/2012

Ed L.'s profile image
Ed L.'s profile image
Ed L.
  • Residential Real Estate Agent
  • from Hattiesburg, Mississippi
  • Member since Jul 16, 2011
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User Stats

475
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141
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Ed L.'s profile image
Ed L.'s profile image
Ed L.
  • Residential Real Estate Agent
  • from Hattiesburg, Mississippi
  • Member since Jul 16, 2011
Connect
Ed L.
  • Residential Real Estate Agent
  • Hattiesburg, MS
141
Votes |
475
Posts
1031 Exchanges

Help a Simpleton!

Ed L.
  • Residential Real Estate Agent
  • Hattiesburg, MS
Posted

For Example:
Purchase a $50,000 home spend $20,000 in rehab. Sell for $100,000

That results in a net gain of $30,000 of taxable income.

Would I be able to perform a 1031 exchange and buy a $30,000 rental home free and clear with no tax burden.

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