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Updated over 1 year ago,
1031 exchange into an office and rent to my business
I am looking to sell a building that I own in my own personal name and 1031 exchange into an office condo. I'd like to rent that office condo out to my business (which is single member LLC taxed as an S Corp) at fair market value for office rentals in that complex. Would that pass an IRS audit for use of the property or would it be considered personal use since I own the LLC and therefore not allowed. Thanks in advance to anyone who knows for certain.