1031 Exchanges
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 1 year ago,
Converting current primary residence to investment with 1031
My wife and I are looking to move into a new home. We are considering selling an investment property and converting our exisiting primary home into a rental. We would need to use the proceeds from the rental sale to make a sizable down payment on our new home. Is there a legal way for my LCC to purchase our current primary home utilizing 1031 exchange to avoid depreciation recapture and long term captial gains. We still have a mortgage on our primary home, so I could see this getting messy, even if it is possible.