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re: 1031 Exchange Rules are terrible
Posted on 11/10/23 at 10:23 am to Sneauxghost
Posted on 11/10/23 at 10:23 am to Sneauxghost
You're not paying tax on the gain on a personal residence under the majority of cases, if that's what you're talking about.
2
Posted on 11/10/23 at 10:28 am to Smoke7024
That's not what I'm talking about.
Posted on 11/10/23 at 10:34 am to Smoke7024
quote:
You're not paying tax on the gain on a personal residence under the majority of cases, if that's what you're talking about.
A personal residence isn’t eligible for a 1031 exchange as far as I know. The rule I’ve been asked during real estate transactions is if the property has been a rental property for at least 5 years. That seems to be very important.
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