When can rental become a dream home? (Reno Gazette-Journal)
Story date: 2008-01-02 05:05:13
Added on: 2008-01-02 21:46:55
DEAR BENNY: In a recent column, I read that 1031 property transfers had to be held for a period of one to two years to establish "intent." I thought that a law was passed in October 2004 that stated the "intent" period was five years. I bought a 1031 property in California in 2005 and would appreciate this being clarified. Thank you for column! -- Nancy M.
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