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Updated about 1 year ago, 11/26/2023
Combining 1031 and primary residence
I have a question. I own a property outright that is 650k. It has been my primary residence but I want to move. Could I rent it out for a year and then do a combination of a 1031 exchange. Take 400k to buy an investment property while taking advantage of the 250k tax exemption on capital gains for primary residence?