The Meaning of "Like Property" in 1031 Exchange
The Meaning of "Like Property"
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"Like Property" in regards to the IRS Tax Deferred Exchange is basically any Real Property (Real Estate) that is held for investment. Held for investment generally would mean property that you keep for a period of time for investment growth by appreciation, depreciation and cash flow.
Rental Homes Rental Office Buildings
Shopping Centers "Like Properties" Apartment Buildings
Land or Ranch 30 Year Lease Property that is purchased for investment purposes in order to be "flipped" (resold quickly) as in a fixer-upper purchased, repaired and then quickly resold is NOT considered "held for investment" and would likely not qualify for 1031 Exchange. Contact a qualified exchange company to assist in identifying which of your properties are available for a 1031 Exchange.
Grade Your Investment Properties
Key Points to a 1031 Exchange
The Meaning of "Like Property"
The Exchange
1031 Exchange - Tax Code
All information believed accurate but not warranted. |
