Sorry I can’t help.
I have a question though what is the amount of income you are trying to keep tax defered? It could not be too much because of the short holding time. Your profit is sell price minus selling costs minus purchase price minus buying costs. It will be a short term cap gain that is taxed as ordinary income at your current tax rate.
Just trying to se logic in what you are trying to do here. I have never done a 1031 before but am starting to try to understand the process.
Need a 1031 Exchange Agent - Posted by Kuldip Goyal
Posted by Kuldip Goyal on September 14, 2005 at 07:43:25:
I need a 1031 exchange agent for a settlement for September 22, 2005.
Can I use 1031 exchange?
I bought the house on July 21, 2005 (as primary residence but I cahnaged my mind and never moved in).
The house is under contract and will be sold on 9/22 for 630K. The commission and settlement costs are about 22K. The contract says I will use 1031 exchange.
I have another property under contract (being built) and is expected to ready in November 2005. The sales price is $560K. The closing cost will be around 10K.