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Updated over 2 years ago,

User Stats

7
Posts
2
Votes
Michael Owens
2
Votes |
7
Posts

Nuanced 1031 rental home question

Michael Owens
Posted

I am selling a rental house and am wondering if it is eligible for a 1031. I bought the house about 28 months ago as a primary residence (and financed it that way), but had a roommate live there and pay rent. I moved out after about 11 months and bought another house and continued renting the house out for another year and a half. I am under contract to sell it, and am wondering if this will qualify for a 1031. It was financed as owner occupied and I did live there... but I have had income from it since shortly after closing. If I want to roll this into an AirBNB via a 1031, can I do that?

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