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LLC 1031 exchange after divorce
My wife and I have an LLC. We divorced last year. We are in a community property state. The rental proceeds have been claimed as regular income on our 1040's. We want to sell one of the two remaining properties in the LLC and each do a 1031 exchange. We have owned the property for 39 years. It has been in the LLC for 10 years. The exchange company says we cannot do that unless the sale property is titled in each of our names, not the LLC. HELP!