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Which type of property does NOT qualify for a 1031 exchange?

Correct Answer

C) Primary residence

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.

Answer Options
A
Rental apartment building
B
Vacant land held for investment
C
Primary residence
D
Commercial office building
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Related Topics & Key Terms

Related Topics:

capital-gains-tax-real-estateinvestment-property-classificationlike-kind-property-exchange

Key Terms:

1031 exchangelike-kind exchangeIRC Section 1031capital gains deferralinvestment property
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