sell by auction or not?

[G. Wells]

Originally Posted by George M. Purtill

I'll bet there are a lot of unhappy people reading this thread at tax time.
The sad thing is that a lot of people could eliminate a lot of the liability by using a 1031 exchange.

In order for personal property to qualify for a 1031 exchange - Qualified Use Personal Property

You must have held the relinquished personal property for rental, investment or use in your trade or business, and must have the intent to hold the like-kind replacement personal property for rental, investment or use in his business. Personal property not held for rental, investment or use in your trade or business is not considered to be qualified use personal property and will not qualify for 1031 Exchange treatment.