The difference in tax when a property is sold is much more when the gain is classifed as short term. If someone sells a rental house that they have owned for 20 years and does a nontaxable exchange and 3 months after they did the nontaxable exchange they turn around and sell the property and take all the cash does this make the sale a short term gain? In other words if someone does a nontaxable exchange, do they have to wait at least one year before selling in order to have their gain classifed as long term even though the original exchange would have been classified as long term.
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