Questions tagged [1031-exchange]
The 1031-exchange tag has no usage guidance.
How to evaluate options for selling a rental property
I own inherited rental property in the San Francisco Bay Area, and have been thinking about doing a 1031 exchange into Chicago, where I now live, for a few main reasons. One, I inherited the property ...
As a non-1031 house seller, why do I care if the buyer wants to do a 1031 exchange
I currently have my house listed for sale. A potential buyer came by today, liked the property and, as he was leaving, asked if I would sell as part of a 1031 exchange. I understand why he would want ...
Form 1099-S issued in conjunction with 1031 like-kind exchange
During 2022, I performed a 1031 like-kind exchange, in which I sold a piece of undeveloped land, and used the proceeds towards purchase of a vacation rental house. (This is a way of deferring capital-...
How long until a 1031'd property can be a primary residence?
I'm hoping to 1031 a rental property and then move into it myself for a bit. As far as I can tell this is fine, even when setting the mortgage to "primary residence" but how can I find out ...
Does sale need to come before purchase to be considered a like-kind exchange
Does sale need to come before purchase in order to be considered a like-kind exchange and avoid capital gains tax? When selling your home (primary residence) and purchasing a new one does the sale of ...
1031 Exchange versus Accelerated Deprecation on New Property
On the surface a 1031 exchange seems like a no brainer if someone is selling property and buying a qualified property. However, it seems that if I use a 1031 exchange my accelerated depreciation on ...
1031 exchange to buy out another party?
Can a 1031 exchange be used to buy out another owner of a residential rental property? Say two people own one rental house 50/50. There is no assumed business name, LLC or partnership. The deed has ...
Partial 1031 exchange from home sale
My uncle and I are looking at selling a home we own in a trust. He would like to withdraw his portion of the net proceeds via a K1 and I would like to do a 1031 exchange with my portion. Is this ...
Utah, USA - Best Option to Minimize Capital Gains on Real Estate Sale(s)
Scenario I bought a primary residence in Utah on 06/2020 RE in UT boomed (21% for my residence) and I'd like to sell Additionally I have property I've owned since 2007 I'd like to sell while the ...
How will my 1031 boot be taxed?
In the USA I'm working on a 1031 exchange. I'm having trouble finding information on how a boot (if I take one) will be taxed. I'm closing on my sale for $700k. I will have a capital gain of $550k. I ...
Am I required to select properties I identified in my 45 day 1031 window?
I'll be doing a 1031 exchange. I know that I am required to identify replacement properties within a 45 day window and close within 180 days on a replacement. Am I required to choose one of the ...
Can you buy back the property you sold for a 1031 exchange
I am trying to get creative in order to make something work... I have 4 mortgages right now. I want to add a 5th, but it would be a jumbo loan. My lender informed me that adding a jumbo loan cannot be ...
Can I remove commissions from my 1031?
In California, let's say I sell a property for $100,000, paying a $6000 commission. Is my 1031 exchange amount $100,000 or $94,000?
How does the tax computed in a 1031 exchange when the new property is worth no more than the equity?
Confused about the 1031 exchange in partial defer... My case is as follows: I got an investment property in Los Angeles, USA which I plan to sell for 850K. I got that property 15 yrs ago for 300K. ...
opportunity zone vs 1031 exchange
From what I read opportunity zones are more flexible. For example, if you have 1M property with 600K loan and you want to replace it with thru 1031, you cannot just go for a 400K property ( which is ...
1031 exchange and cash boot
My question is about 1031 exchange and whether I can get rid of the mortgages from my life once and for all, by investing only with the equity I got? Looks like this great idea is not possible. The ...
Which professionals should I work with for a 1031 exchange?
I know what a 1031 exchange is, and it's complex enough to know that I need help with it. The problem is I'm not sure who I need help from. My property I'm selling is about to start escrow and my ...
Sale of a rental property, looking to buy a new house that the seller can't move out of right away
I recently sold my rental property (owned for 5yrs, rented out for the last 3.5yrs) and netted $50k. I am currently under contract to purchase a new house for $55k down that I plan on living in. The ...