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Matt Honeyford
  • Investor
  • Rochester, NY
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1031 Exhange: Holding periods

Matt Honeyford
  • Investor
  • Rochester, NY
Posted

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?

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Natalie Kolodij
  • Tax Strategist| National Tax Educator| Accepting New Clients
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Natalie Kolodij
  • Tax Strategist| National Tax Educator| Accepting New Clients
ModeratorReplied

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. 

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Kolodij Tax & Consulting

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