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Updated over 7 years ago on . Most recent reply

Kay Ferdous's profile image
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Kay Ferdous
  • from East Rockaway, New York
  • Member since Jul 19, 2016
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Kay Ferdous
  • from East Rockaway, New York
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Kay Ferdous
  • East Rockaway, NY
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Tax, SDIRAs & Cost Segregation

1031 exchange question

Kay Ferdous
  • East Rockaway, NY
Posted
just flipped my first homr and neted about 30k if i now use this money to conver my current home to 2 family. would that work as 1031 exchange ?
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Jessica Zolotorofe
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Jessica Zolotorofe
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Jessica Zolotorofe
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  • New Jersey
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Jessica Zolotorofe
  • Attorney
  • New Jersey
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I think the third problem would be the your "current home". For the most part, you can't use your primary residence in a 1031. 

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