1031 Exhange: Holding periods

[Matt Honeyford]

I have a question about qualifying rules for 1031 exchanges.

Let’s pretend:

I make a $100,000 profit from a property that was held less than one year. Can I then take that $100,000 and invest it using a 1031 exchange?

[Natalie Kolodij]

Potentially-Was that property a rental?

Your status says your a flipper...and flip income is ordinary income and doesn't typically qualify for 1031.