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1031 Exchanges
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Updated over 1 year ago,

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Jared Kouba
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Converting current primary residence to investment with 1031

Jared Kouba
Posted

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.  

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