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Updated about 5 years ago on . Most recent reply

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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
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Can you 1031 a House Hack?

Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
ModeratorPosted

A friend purchased a property to be both an investment and a primary residence. 

Can you 1031 a house hack? It has been more than five years since he last lived in the home.

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Natalie Kolodij
  • Tax Strategist| National Tax Educator| Accepting New Clients
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Natalie Kolodij
  • Tax Strategist| National Tax Educator| Accepting New Clients
ModeratorReplied

Yep. 

Since it's been 100% rental for more than 3 years they lose the 121 primary residence exclusion. 

Now it qualifies for 1031 treatment. 

@Dave Foster Is who they should reach out to

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Kolodij Tax & Consulting

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