Finalizing the sale of a new construction, can I 1031 into another new construction?
Hey BP community. I've spent the last week or so trying to get the answer, but I can't get to the bottom of it. Here's a quick summary of my scenario:
I just completed a new construction and expect to close the sale within the next 30-45 days. I plan on reinvesting the profits into another new construction, so I'm wondering if I can do a 1031 to avoid paying the capital gains tax.