Asking for help regarding 1031/121 Exchange

[Ricky B.]

Here is my scenario:

- I sell my duplex which I owned for 7 years

- I lived in the 2/3 portion and use the remaining 1/3 for rental all 7 years

- Selling price 1 mil.

- Am I correct that I can 1031 the 1/3 rental portion ($333K) and 121 the OO portion ~ $667K?

[Emily Lopez]

@Ricky B.  This is a non-answer.  As I'm sure you know looking into this, 1031 Exchanges are a little tricky and very specific.  However, I was very surprised when speaking to a company representative about the specific pricing of having them handle your exchanges and it is actually a really affordable service for the amount you can save and the resource of their knowledge.  I would recommend contacting a company that specializes in 1031s to tap into their expertise.