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Updated over 3 years ago on . Most recent reply presented by

Binod G.'s profile image
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Binod G.
  • from San Jose, CA
  • Member since Nov 11, 2018
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Binod G.'s profile image
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Binod G.
  • from San Jose, CA
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Binod G.
  • San Jose, CA
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Tax, SDIRAs & Cost Segregation

1031 exchange question

Binod G.
  • San Jose, CA
Posted

I have a property that lived in for 9 years and I have been renting that property for the last 4 years. Can I 1031 exchange this property into a primary residence of equal value.

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Bill B.
  • #3 1031 Exchanges Contributor
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  • from Las Vegas, NV
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Bill B.
  • #3 1031 Exchanges Contributor
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Bill B.#3 1031 Exchanges Contributor
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  • Las Vegas, NV
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Bill B.#3 1031 Exchanges Contributor
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  • Las Vegas, NV
Replied

The closest you could come is if you bought a duplex that was twice as expensive. Then you could exchange the rental for the rental half of the new building and personally pay for the live in side. 

It’s to bad you didn’t sell within 3 years of moving out as it would have been tax free. (Just a note for next time.)

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