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Updated about 7 years ago on .

1031 Exchange or No?
Hey BP Community,
We have a home that has been in the family and has not been declared as a rental for tax purposes due to various family members and friends living in it.
It has come time to sell, and the question is whether or not we need a 1031 Exchange in order to avoid Capital Gains Tax?
Thank you so much for any help!!
Cedric