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Updated over 5 years ago on . Most recent reply
1031 exchange rental property for RV.
I have a condo that is a rental I would sell if I were allowed a 1031 Exchange for building my retirement RV.
Anyone know if this might possibly be allowed?
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#1 1031 Exchanges Contributor
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- St. Petersburg, FL
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#1 1031 Exchanges Contributor
- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
@Bill Wills, probably not. The 1031 has to be a sale of investment real estate followed by a purchase of investment real estate. An RV is going to be classified as personal property. There are times when an RV could be treated as real estate when attached to a lot. But for something you want to travel in you almost certainly get a registration certificate from the DMV and not a tax bill from the county appraiser. That makes it not real estate so no 1031.
If your tax bill is going to be large then 1031 but into a passive cash flow producing asset. Purchase an RV and pay for it with the tax deferred cash flow.
- Dave Foster
