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Updated almost 11 years ago,
1031 Exchange from a Trust
Sample situation:
A commercial property is worth $1,000,000 and is owned by an irrevocable trust. A person has a 1/10 share in that trust. The property sells and the person receives $100,000 from the sale. Rather than pay taxes on that $100,000 received, can the person 1031 his proceeds from the sale in to another non-owner occupied rental property?