Friday, March 11, 2011
Your questions about 1031 exchange
Jenny asks…If I buy a property on a 1031 exchange, can I sell it in one year?In addition, during this year, I will have my son paying me monthly payments (principal & interest). At the end of this year, I will sell the property to my son at the new market value. Will my son be able to write-off the interest that he pays for the first 12 months on his taxes?admin answers:Why don't you get an accountant?Linda asks…How does a 1031 exchange work?I have some money in a 401K and some other investments and I would like to purchase real
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