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Updated over 5 years ago on . Most recent reply presented by

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Eli Gilbert
  • Investor
  • Cleveland, OH
22
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103
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Can you do a1031 exchange on a flip?

Eli Gilbert
  • Investor
  • Cleveland, OH
Posted

I am new to this and have heard of the 1031 being used to avoid paying taxes!

Can you put profits from a flip, (which is usually considered capital gains), into a 1031 to avoid taxes?

Essentially this question doesn’t make sense, because the idea of flipping is for short term money now, etc, however I am asking if I can 1031 into a primary residence, thereby skipping tax season!?

Lol

Most Popular Reply

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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
  • CPA, CFP®, PFS
  • Florida
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
  • CPA, CFP®, PFS
  • Florida
Replied
Originally posted by @Eli Gilbert:

I am new to this and have heard of the 1031 being used to avoid paying taxes!

Can you put profits from a flip, (which is usually considered capital gains), into a 1031 to avoid taxes?

Essentially this question doesn’t make sense, because the idea of flipping is for short term money now, etc, however I am asking if I can 1031 into a primary residence, thereby skipping tax season!?

Lol

You can’t do 1031 on flips. 

Even if it was in non flips (investment), you cant do 1031 to primary. 

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