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motion motion is offline
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Join Date: Apr 2000
Location: Mid-life crisis, could be anywhere
Posts: 10,382
If you want to effectively end the 1031 cycle of madness, there is a way. All you have to do is live in the house for 2 years. Then you can sell it and keep up to $500,000 of the gains (if married, $250k if single) tax-free. This is how many people live tax free. They buy properties using 1031 exchanges, then live in them tax-free for 2 years. Sell the house and keep all the profit tax free.
Old 12-18-2006, 08:14 PM
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