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Hello,can I deduct mortgage and property tax on Schedule C for parcel of land purchased for Interstate trucking business?land is not developed and there is no i...
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holding period is a loop hole, there is no requirements in IRS publications, but suggested time is 12 month or until next tax filing.
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1031 for the sale of first property and purchase of second property was done properly by authorized agency. paperwork all godd. so there was thue 1031 exchange.
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thank you, that is what i was thinking, eventhou technically second sale waived 1031 benefits
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1031 exchange and sale of the new property happened in one tax year, do i need to process form 8824. technicly do i eve need to do exchange in the tax return or...
