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Updated almost 2 years ago on . Most recent reply presented by

Matthew Heffernan's profile image
Matthew Heffernan's profile image
Matthew Heffernan
  • New to Real Estate
  • from Goshen, IN
  • Member since Apr 11, 2016
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13
Posts
9
Votes
Matthew Heffernan's profile image
Matthew Heffernan's profile image
Matthew Heffernan
  • New to Real Estate
  • from Goshen, IN
  • Member since Apr 11, 2016
Connect
Matthew Heffernan
  • New to Real Estate
  • Goshen, IN
9
Votes |
13
Posts
1031 Exchanges

1031 Exchange under an LLC

Matthew Heffernan
  • New to Real Estate
  • Goshen, IN
Posted

I'm trying to help a friend defer capital gains tax in Michigan.

He is selling a business and the real estate to a single buyer, however the property is owned separately under an LLC, which will remain in the Sellers ownership going forward.

Does 1031 exchange limit the exchange to commercial only?  Could a vacation rental property be purchased in exchange for the business/commercial property being sold?

Thank you!

Detroit, Michigan
1 Vote
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Matthew Heffernan's profile image
Matthew Heffernan's profile image
Matthew Heffernan
  • New to Real Estate
  • from Goshen, IN
  • Member since Apr 11, 2016
Connect

User Stats

13
Posts
9
Votes
Matthew Heffernan's profile image
Matthew Heffernan's profile image
Matthew Heffernan
  • New to Real Estate
  • from Goshen, IN
  • Member since Apr 11, 2016
Connect
Matthew Heffernan
  • New to Real Estate
  • Goshen, IN
9
Votes |
13
Posts
Matthew Heffernan
  • New to Real Estate
  • Goshen, IN
Replied

@Dave Foster  Yes you nailed it in your summary.

Thanks all for your responses!

1 Vote
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