New tax law irks couple in real estate exchange

Holding period nonexistent in 2002
Published on Oct 6, 2005

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by CareyBot

DEAR BOB: In May 2002 we entered into an Internal Revenue Code 1031 tax-deferred exchange for the sale of our Kansas City, Mo., rental condo to a rental house in Sarasota, Fla. It was our understanding it should be rented ...