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Updated about 1 year ago,
1031 exchange and eminent domain
I have very recently completed a 1031 exchange. I sold a property in the Bay Area (California) and purchased five replacement properties in Florida. One week after completing the exchange Marion County, FL, contacted me regarding one of the replacement properties and notified me that it is on the path of a planned new 4-lane road and that they would like to do a whole take acquisition.
My priority is to preserve the 1031 exchange and to continue deferring the capital gain taxes (both federal and CA state).