Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago,

User Stats

20
Posts
3
Votes
Bo Qosja
  • Investor
  • Congers, NY
3
Votes |
20
Posts

when can i use 1031 exchange -need advice

Bo Qosja
  • Investor
  • Congers, NY
Posted

hi - purchased my property in January 28th and just sold it and signed the contract on 10/21.  Just spoke to a 1031 exchange lawyer and he said that this is not a good scenario and I cant do a 1031 exchange, that i did not hold the property for long enough time and i would surely be audited by the irs if i did this.  Does anyone have any advice? how do you guys do it? the profit is around $100k so the tax hit would be huge. I am planing on purchasing another property right away.  Not sure what to do here. Any advice would be appreciated.  

Loading replies...