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Updated 7 months ago,
rules regarding 1031 in New York
I live in New York City and I am selling an investment property in California, a single family house, and I am planning on using 1031 to buy investment property in New York City. My wife read online that if you use 1031 to purchase an investment property in NYC that as far as houses are concerned, you can only purchase a multi family house and not a single family house or houses. I tried to look this up online but cannot find any information to confirm or refute this claim. Does anyone know anything about this? Thanks in advance.