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Questions tagged [1031-exchange]

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12 votes
3 answers
4k views

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 ...
Dave D's user avatar
  • 223
5 votes
2 answers
766 views

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 ...
Nick Schild's user avatar
4 votes
1 answer
314 views

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 ...
Daniel Kaplan's user avatar
2 votes
2 answers
420 views

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 ...
fox's user avatar
  • 429
2 votes
1 answer
112 views

Can I 1031 split real estate, then move into both sequentially?

I have an investment property where I have a capital gain of approximately 700k with no mortgage. I understand that you can move into an investment property, convert it to your primary residence and ...
Matthew's user avatar
  • 3,150
2 votes
1 answer
91 views

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 ...
Matthew's user avatar
  • 3,150
2 votes
1 answer
212 views

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 ...
Matthew's user avatar
  • 3,150
2 votes
0 answers
53 views

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 ...
turtle's user avatar
  • 21
1 vote
1 answer
53 views

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 ...
Stratus3D's user avatar
  • 115
1 vote
1 answer
347 views

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 ...
Eric Olson's user avatar
1 vote
1 answer
390 views

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-...
RustyShackleford's user avatar
1 vote
1 answer
66 views

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?
Matthew's user avatar
  • 3,150
1 vote
2 answers
66 views

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 ...
Haluk Karamete's user avatar
1 vote
0 answers
42 views

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 ...
Haluk Karamete's user avatar
0 votes
1 answer
106 views

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 ...
Jacksonkr's user avatar
  • 943
0 votes
1 answer
60 views

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 ...
simgineer's user avatar
  • 113
0 votes
1 answer
70 views

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 ...
Jacksonkr's user avatar
  • 943
0 votes
0 answers
67 views

Like exchange property

I’m selling my condo and buying my parents house in irrevocable trust. Parents house appraised at 765,000. I’m going through 1031 exchange. I’m getting loan for amount at 765,000 minus proceeds from ...
Giselle Nguyen Kessler's user avatar
0 votes
1 answer
42 views

ongoing tax implications of 1031 exchange out of California

I'm considering a 1031 exchange of a rental property to a different property out of California. I assume that I will owe tax to California if I sell the property after the 1031. But will I have to do ...
fox's user avatar
  • 429
0 votes
0 answers
37 views

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 ...
Be Kind To New Users's user avatar
0 votes
0 answers
37 views

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. ...
RapidoMundo's user avatar
-1 votes
1 answer
156 views

Can I buy my personal residence with a 1031

So this is not the typical "can I a home with a 1031 to live in". I know those rules. My question is a bit different. I have lived in my primary residence for more than 2 years. I would ...
Cade's user avatar
  • 19