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Updated about 1 year ago on . Most recent reply
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Selling out of 1031- Short term v Long term
We are considering selling a property which was acquired by 1031 exchange. The original, relinquished property was held for 12 years and the acquired property has been held for less than a year. Will the capital gains be counted as long term (since the original property was held in excess of 12 years) or short term (since the acquired property has been held less than a year)? I have read other comments that the properties would be considered “tacked together” but would love to hear from one of the experts on here who might have direct experience with this. Thanks