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A Wave of Zoning Law Changes Could Have Huge Impacts for Investors and Housing—Here’s What You Need to Know
The U.S. is facing a housing deficit of about 3.2 million units, and the situation is especially dire in urban areas like New York. It’s one of the reasons prospective homebuyers are finding […]
Do You Think It’s a Tough Time to Invest? It’s Not When You Can Get Deals Like This
Are you sitting on the sidelines in this market? Many investors are. There’s a lot of fear and caution. But we’re not. And you don’t need to be, either.  Of […]
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1031 Exchanges
HomeForums1031 ExchangesDoes 1031 Impact Ordinary Income From Sale of Rehab Property?
Brandon Sturgill's profile image
Brandon Sturgill's profile image
Brandon Sturgill
  • Real Estate Broker
  • from Columbus, OH
  • Member since Apr 30, 2013
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Brandon Sturgill's profile image
Brandon Sturgill's profile image
Brandon Sturgill
  • Real Estate Broker
  • from Columbus, OH
  • Member since Apr 30, 2013
Connect
Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
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1031 Exchanges

Does 1031 Impact Ordinary Income From Sale of Rehab Property?

Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
Posted Oct 2 2014, 03:33

So, my CPA indicated that a 10301 really won't assist in deferring capital gains because capital gains are irrelevant when selling a short-term investment. His explanation is that the profit will be taxed as ordinary income irrespective of the desire to use 1031...is this accurate?

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