Carl Cushman, a college professor, age 58, purchased and moved into a house on August 1, 2017. He used the house continuously until September 1, 2018, on which date he went abroad for a one-year sabbatical leave. During part of the period of leave, the property was unoccupied and it was leased during the remainder of the period. On October 1, 2019, one month after returning from such leave, he sold the house. Can he trade the home under Section 1031 after it has been leased?

Answer rating: 100% (QA)

In general to qualify for the Section 121 exclusion you must meet both the ownership test and th... View the full answer