Quick 1031 Exchange question

[John Matthew Johnston]

Doing first 1031 Exchange from property to property. My question is once I sell my new property will I have to pay double capital gains taxes( like for both properties) or just on the new property. Assuming of coarse I don’t do another exchange when I sell this new property.

[Bill B.]

@John Matthew Johnston

John, flips aren’t eligible for 1031 exchange, the property has to be held for investment. 

@Matt P.

If haven’t sold the duplex yet, yes you could exchange in to the apartment building. But you can’t sell, take the money and reinvest it. You sell, the money goes to the QI, not you. Then you have 45 days to say I’m going to buy one of these 3 apartment buildings. Then you have 135 more days (180 total) to close on said apartment building.