Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 8 years ago,
when can i use 1031 exchange -need advice
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.