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Updated almost 10 years ago on . Most recent reply

User Stats

19
Posts
6
Votes
Darla Holtzclaw
  • New Jersey
6
Votes |
19
Posts

1031 Exchange Scenario - Purchase a Duplex Live in one side?

Darla Holtzclaw
  • New Jersey
Posted

Hi Folks,

I'm afraid that I'm going to be paying some Cap gains this year on a property I've had rented for a few years.  I used to live there, but I have rented it for too long.  

Would it be possible to 1031 and purchase a duplex, but live in one side.   One side for tax purposes would be rental property.  Has anyone lived in one side of a duplex.  How did you treat the property on your taxes?

Thanks!

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