I’m hearing 2 years as a bare minimum, but my impression was that it could be done more quickly. Has anyone successfully 1031’d with sub 2 years of ownership out of curiosity?
Do you mean bare minimum to own a property before you can 1031 it into another property?
Yes. Have heard various things from different 1031 companies and it’s not set in stone with the IRS.
It’s a catch-22. The minimum time is not stated, but the IRS 'knows it when they see it." Seems like I’d heard one year but I’d suggest asking a known 1031 expert like Dave Foster, not this group of MHP SMEs.
I think you have to be able to show you intended to hold long term, but my only 1031 was several years ago.
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