Property sitting

[Account Closed]

If a property has been uninhabited for 5-6 years because we were waiting for the housing market to go back up before selling, is this property considered to be for investment in which case it would qualify for a 1031 exchange?

Thank you.

[Bill Exeter]

Hi Judy,

Generally, yes. The important issue here is your intent. If you had the intent to hold for investment and were waiting for capital appreciation, then it would certainly qualify for 1031 Exchange treatment.