Question about 1031 exchanges. If I buy a SFH investment property for 1.3M that has a fair market value of 1.8M, and I sell that property for 1.8m, I can do a 1031 exchange where I have a 45 day window to Identify another “like-kind property”, or another sfh. Does the other “like kind property” need to be greater than or equal to 1.3m or to 1.8m+?
I think you’ve to close this in 6 months. You can change your identified property as well as long as it’s closed in 6 months
So in theory if i sell the property for 1.8m i would make 500k but that wont be taxed if i can close within 180 days on a property of 1.8m or more?
Once you have put down ur list in those 45 days you cannot change it anymore
Tech Industry
Yesterday
557
Bitcoin is the only possible future
Software Engineering Career
4h
1024
What level would Zuck be, had he not created FB
Cars
10h
1085
Electric cars depreciate 10 times faster than gasoline cars
AMA
2h
511
I have worked at TikTok US core tech for 3 years. AMA.
Tech Industry
Yesterday
3644
1 vs 5 Million - no lifestyle change
You can buy more than 1 property also, but the total cost must be 1.8 or more