Are two 1031 exchanges allowed in the same year?

[Fabiola Noel]

Good morning, 

I appreciate your answers. Thank you so much

1) Is it allowed to have two 1031 exchanges from the sale of 2 rentals in the same year? 

2) Also, is it allowed for proceeds of both sales to be used as down payment towards 1 single asset?

3) can a 250k exemption from sale of primary residence be claimed in the same year as a 1031 exchange for a rental?

[Dave Foster]

@Fabiola Noel each sale stands by itself.  So as long as a sale qualifies for a 1031 exchange you can do as many as you want in a year.  Same thing with selling a primary residence.  As long as that sale qualifies for the 121 exemption you can do that and as many 1031s in a year you want. 

What you're talking about is what we all a consolidation exchange.  combining multiple sales and 1031s and buying one larger asset.  As long as you purchase at least as much as the combined net sales of your 1031s.  And as long as the purchase of the replacement property meets the timing requirements of all of the sales (identified on the 45 day list and purchased within 180 days of the first sale) then you will defer all tax from both sales.