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Updated 12 months ago,

User Stats

140
Posts
27
Votes
Peyton LaBarbera
  • Investor
  • Connecticut
27
Votes |
140
Posts

Can you 1031 a fix and flip?

Peyton LaBarbera
  • Investor
  • Connecticut
Posted

Let's say you have a property that will take just a bit over 12 months to renovate and sell... now the rule for 1031s is that you can only use them if you hold the property for at least 1 full calendar year so does this mean that I can now 1031 the property or not?

The reason why I ask if you can't is because I have heard from some people you can't no matter what because you aren't renting the property but flipping it but others say that as long as you hold it for over 1 year you can utilize the 1031 to get into another property.

Thank you to all that reply

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