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Updated about 3 years ago on . Most recent reply
Renting and then building on the same lot, tax questions
I have a rental that I'd like to demolish and then build a new house for sale. Can I use 1013 exchange when I see it or not?
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Ashish Acharya
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
Tax & Financial Services
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#2 Tax, SDIRAs & Cost Segregation Contributor
- CPA, CFP®, PFS
- Florida
Originally posted by @Olga Daisel:
I have a rental that I'd like to demolish and then build a new house for sale. Can I use 1013 exchange when I see it or not?
You cannot 1031 exchange to the house that you are going to sell. Also, 1031 is almost not required if you are going to sell the replacement property anyway.
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