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Updated over 9 years ago on . Most recent reply
Partial 1031-Rental and Residence on 1 Deed
Hello everyone, new member here.
I need some info on a partial 1031. My property in Honolulu, Hawaii was originally purchased in the 70's with having 1 house on a large lot. In the 90's, I built a 2nd house in the back of existing house. The first house is being used as a rental and the 2nd house is my residence.
I am planning to sell my property and would like to do a 1031 on the rental. According to my CPA, in order to allocate the property he said he will need to know the cost of building 2nd house, my residence.
I don't have all my paperwork or receipts for the cost of the build.
Are there another way of allocating the property in order to do a partial 1031?
Thank you.