09-22-2005, 02:52 AM
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 Re: Sec. 1031 Timing <lute--[at]aol.com> wrote - quote - > I own a piece of property which qualifies for a 1031. Buyer
So you're just going to what, swap titles?> wishes to purchase, with closing in 18 months. Buyer has > offered to purchase a replacement property now (of my > choosing) and hold it for exchange on the closing date. > Does this fall within the rules for a 1031? Yes, that would qualify, although there may be a taxable event depending on the specific facts. -- Paul A. Thomas, CPA Athens, Georgia taxman at negia.net << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
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#-1
09-21-2005, 05:53 AM
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| Sec. 1031 Timing I own a piece of property which qualifies for a 1031. Buyer wishes to purchase, with closing in 18 months. Buyer has offered to purchase a replacement property now (of my choosing) and hold it for exchange on the closing date. Does this fall within the rules for a 1031? << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
| Tags |
| 1031, sec, timing |
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