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Updated almost 2 years ago,

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Nicholas Rella
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Can I 1031 exchange to myself??

Nicholas Rella
Posted

I currently own two duplexes in addition to my primary residence. Recently, a neighbor at one of my duplexes approached me to see if I was interested in selling. I’ve owned the property for 15+ years and have a good amount of equity. I would rather not pay the taxes on the sale if i can avoid it. 

My question is, can I sell my other property to myself to shelter the proceeds. I believe the second property is in both my wife and my name. I can transfer either property to an LLC if necessary. But I'm just curious if anyone else has done this before.

Thanks in advance!!

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