Transfer Of TitleTaxes
Transfer Of Title Practice Question
Which type of property does NOT qualify for a 1031 exchange?
A
Rental apartment buildingB
Vacant land held for investmentC
Primary residenceD
Commercial office buildingExplanation
1031 exchanges are only available for property held for investment or business use. Personal residences, including primary homes and vacation homes used primarily for personal use, do not qualify. The properties must be 'like-kind' investment or business properties.
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