D
deeze6
Guest
What is the name of your state? NJ
Hello All,
I have a few questions regarding 1031 exchanges.
If I buy an investment property how long do I have to hold it before I can sell it in a 1031 exchange?
What exactly do they mean by tax deferred? Lets say I sell House A for $100,000 profit but defer capital gains taxes by exchanging it for House B. I then sell House B for no profit and buy no more houses after that. Do I then have to pay for the deferred taxes on House A?
House A House B
Bought 200,000 Bought 300,000
Sold 300,000 Sold 300,000
Thanks,
Deeze6
Hello All,
I have a few questions regarding 1031 exchanges.
If I buy an investment property how long do I have to hold it before I can sell it in a 1031 exchange?
What exactly do they mean by tax deferred? Lets say I sell House A for $100,000 profit but defer capital gains taxes by exchanging it for House B. I then sell House B for no profit and buy no more houses after that. Do I then have to pay for the deferred taxes on House A?
House A House B
Bought 200,000 Bought 300,000
Sold 300,000 Sold 300,000
Thanks,
Deeze6