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Updated over 6 years ago,

Leah Dockter's profile image
Leah Dockter's profile image
Leah Dockter
  • Member since Oct 11, 2018
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Leah Dockter's profile image
Leah Dockter's profile image
Leah Dockter
  • Member since Oct 11, 2018
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Leah Dockter
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1031 Exchanges

Converting from a 1031 to a Section 121

Leah Dockter
Posted

If a partnership does a 1031 exchange into 2 rental homes and then decides to distribute them to the partners can the partners qualify for a 121 each?  This is assuming each partner lives in a house for 2 of the 5 years.  When does the 5 years begin?  When the 1031 exchange was done or when it was distributed to qualify for the 121?

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