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Updated over 2 years ago,

Mahmuda L.'s profile image
Mahmuda L.'s profile image
Mahmuda L.
  • Member since Nov 6, 2021
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Mahmuda L.'s profile image
Mahmuda L.'s profile image
Mahmuda L.
  • Member since Nov 6, 2021
Connect
Mahmuda L.
2
Votes |
32
Posts
1031 Exchanges

1031 exchange question

Mahmuda L.
Posted

I have a house that I lived in as primary residence. Then I had to move out of state for work, so I turned that property to a rental. Now if I do a 1031 exchange, will the next house need to be a rental or primary residence? I still have a fixed mortgage loan in it which was carried on from primary residency time. Will the new loan be considered as investment loan?

Philadelphia, Pennsylvania
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