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Updated about 3 years ago, 11/18/2021

User Stats

72
Posts
40
Votes
Derek Sperzel
Pro Member
  • Rental Property Investor
  • Jeffersonville, IN
40
Votes |
72
Posts

1031 between spouses?

Derek Sperzel
Pro Member
  • Rental Property Investor
  • Jeffersonville, IN
Posted

My Wife and I own SFR properties in Springfield, Ohio and we live in Indiana. My Wife has a W-2 and I've been a fulltime investor for about 5 years. The Properties in Ohio are in an LLC owned solely by my Wife and they are all owned free and clear. I've got a 16 unit complex under contract in Indiana near where we live and I want to sell one of our Ohio SFR via 1031 to help with the down-payment. All our Indiana properties are in single member LLCs in my name only (my Wife isn't active whatsoever in any of the rentals and inherited the Ohio properties). Is there a way to lawfully 1031 any of the Ohio properties into a new investment in Indiana and do so into an LLC not owned by my Wife (they'd go into an LLC owned by me solely)? OR could we do a partner LLC between her and I?


I'm assuming there are 1031 rules against this, but want to confirm. Thank you in advance.

  • Derek Sperzel
  • Loading replies...