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Can I avoid short term cap gains using 1031?
830 Views | 4 Replies | Last:
1 mo ago by Pepper Brooks
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11:35a, 5/11/24
AG
I bought a property earlier this year and I'm looking to sell it. Can I avoid short-term capital gains as long as I use the proceeds to purchase another property?
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1:14p, 5/11/24
AG
was it a personal residence? If so, no
https://www.investopedia.com/terms/l/like-kindproperty.asp
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In reply to Diggity
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1:42p, 5/11/24
AG
Not a personal residence. Rural land
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In reply to tsuag10
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1:51p, 5/11/24
AG
You should be fine then, if you follow the regs.
Will want to find a 1031 expert to help guide you as there are specific rules for disposition and purchase.
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4:02p, 5/11/24
AG
Luann Blough
luann@erg1031.com
214-995-5488
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