Consolidating or Diversifying?
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Subdividing property will re-classify the land as “Dealer Property” which is not like-kind. The case on point is Margolis Vs. Comm. 337F2d 1001.
Written by James Brennan on January 20th, 2007.
Read more articles on Web Properties and inside1031.com and CardeaCommercial.com and Settlement Q&A and Consolidating or Diversifying? and Reporting Your Exchange and 1031 Calc FAQs and Calc_Q1.
Certainly. Properties involved in an exchange need to be held for either productive use in trade or business or for investment. Holding land for its future appreciation would be considered held for investment.
Written by James Brennan on January 20th, 2007.
Read more articles on Web Properties and inside1031.com and CardeaCommercial.com and Consolidating or Diversifying? and Calc_Q1.