Do we have to pay capital gains tax when selling a seasonal property? What about a 1031 exchange?

loriagehring — Sun, 03 Jan 2021 22:18:38 GMT

Changing our primary residence to Florida. Will we have to pay capital gains tax on our old property when selling?

Re: Do we have to pay capital gains tax when selling a seasonal property? What about a 1031 exchange?

Anonymous_ — Sun, 03 Jan 2021 22:30:11 GMT

In order to qualify for like-kind (1031) exchange treatment, the property must be held for productive use in a trade or business or for investment.

The IRS also provides a safe harbor for such exchanges.