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Updated about 1 year ago on . Most recent reply
1031 Tax exchange
Is the 1031 tax exchange code the same for commercial properties as well as residential?
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#1 1031 Exchanges Contributor
- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
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#1 1031 Exchanges Contributor
- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
@Anthony Freeman It must be real estate of any type that you hold with the intent of using it for productive investment use. If the property you are selling is in the US then you must buy in the US or a few select US territories (Quam, the USVI, or the Northern Marianas Islands).
Like-kind - means it must be real estate (but there are also things like oil interests and mineral rights and billboards with 30-year leases intact that are considered to be "like-kind" to real estate).
Qualified use - means that it is held for investment use. Meaning to hold to make money. Your intent must be to hold and not to resell (like a fix n flip).
- Dave Foster
