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Updated over 3 years ago on . Most recent reply
Flipping and 1031 Exchange
Bought a house that I am flipping. Can I do a 1031 exchange to find my next flip?
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Dave Foster
#1 1031 Exchanges Contributor
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Dave Foster
#1 1031 Exchanges Contributor
Tax & Financial Services
Pro Member
#1 1031 Exchanges Contributor
- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
@Anne Abrams, Like @Bill B. said, if your intent was primarily to resell then it doesn't qualify for a 1031 exchange. You may want to run some numbers and see if there's advantage is doing a refinance and purchasing your next "flip" with the refi money. Then hold this property for a bit before selling. Then you can 1031 exchange that property and still have a flip going. on it you want. Although with appreciation what is is right now holding can reap big gains in addition to deferred taxes.
- Dave Foster
The 1031 Investor
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