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Updated almost 5 years ago on . Most recent reply

User Stats

20
Posts
15
Votes
Danny Luu
  • Developer
  • Los Angeles, CA
15
Votes |
20
Posts

My potential first 1031 exchange

Danny Luu
  • Developer
  • Los Angeles, CA
Posted

Hi All, 

I have an rental property in Houston, TX that I would like to 1031 exchange into a duplex in California. Only caveat is that I would like to live in one unit of the duplex and rent the other one. My question is, would it be possible to utilize the benefits of the 1031 if I am living in one unit of the duplex? The other unit would still be a rental but would the IRS consider this a like-for-like property exchange? Any advice would be greatly appreciated! 

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