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Updated almost 6 years ago on . Most recent reply

User Stats

25
Posts
8
Votes
Jamie Adames
  • Real Estate Agent
  • North Andover, MA
8
Votes |
25
Posts

Selling Secondary home to buy another

Jamie Adames
  • Real Estate Agent
  • North Andover, MA
Posted

I have a client here in MA that is looking to sell his secondary home to buy another. He currently lives in Florida and owns a condo, but would like to buy a single family. He would like to attempt to avoid paying capital gains tax. Since he does not use the condo as an investment i'm not sure if a 1031 exchange would still be possible, I sent an email to a 1031 attorney I know but was hoping to get some feedback from hopefully someone who has dealt with a similar situation. 

Thanks!

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