asked

I recently purchased a home with extra land, which I'm having changed to a new parcel. I plan to sell the house in a few months but keep the land, which is worth at least $300,000. Should I keep the land or sell it and use a 1031 exchange to avoid capital gains? Additionally, is there any tax advantage to holding the land for more than a year before selling it?

December 6th, 2024

Sign Up to View Answers

Create an account to view answers and interact with the community!