1031 Exchange and Capital Gains

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Name:Steven Hickox
Location:Denver, Colorado, United States

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Monday, December 05, 2005

1031 exchange and holding period

Dear 1031x: Is there a time requirement for holding property acquired via  1031 before selling it as another 1031? I bought vacant land via 1031 in March 2005 and I am receiving offers and  don't know if I have to hold the property to satisfy specific time  requirements.
 
Dear N:  There is no required holding period for a 1031 exchange.  You cannot buy a property specifically for resale and then qualify for tax deferral under IRC section 1031.  However, if you buy for investment and the market place moves in your favor then there is no required holding period.  I hope you will chose us for your 1031x.  Sincerely,

Steve Hickox
Attorney / President

posted by Steven Hickox | 9:26 AM