Using 1031 Exchange funds to purchase primary residence

[Bryan Feik]

Im considering purchasing a new primary residence.  To fund it, I would sell my current primary residence and potentially one rental property (havnt decided which one, unfortunately I do not have one I have lived in for three of the last five years).  I would like to do a 1031 with the capital gains from the sale of the rental property.  Can I do a 1031 into the new primary residence under the premise I would do some short term rentals/ VRBO with the new property?  Can a primary residence qualify as an income property?  Would there be any kind of minimum income requirement?

Any advice or personal experience is much appreciated! 

[Wayne Brooks]

Can not 1031 into a primary, at all. BTW, the 121 exclusion for your primary is 2 years as your primary of the last 5 years, at least until the end of this year anyway.