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1031 Exchanges
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Updated about 4 years ago on . Most recent reply

User Stats

164
Posts
32
Votes
Andrew Merritt
  • Rental Property Investor
  • Summerville, SC
32
Votes |
164
Posts

1031 for Partially Renovated Property

Andrew Merritt
  • Rental Property Investor
  • Summerville, SC
Posted

Hello, I purchased a distressed house with the intention of fixing it up.  I've received some good offers on it before it's finished and am planning on selling.  I purchased it in November of 2020.  If I sell in January of 2021, would this be a candidate for a 1031 exchange?

Most Popular Reply

User Stats

164
Posts
32
Votes
Andrew Merritt
  • Rental Property Investor
  • Summerville, SC
32
Votes |
164
Posts
Andrew Merritt
  • Rental Property Investor
  • Summerville, SC
Replied

Thanks @Dave Foster.  Our original intent was to flip it so it's probably safer if we just pay the taxes on it and move on.

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