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Updated about 18 years ago on . Most recent reply

User Stats

633
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488
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Brandon Schlichter
  • Real Estate Agent
  • Circleville, OH
488
Votes |
633
Posts

1031 Scenario - Question

Brandon Schlichter
  • Real Estate Agent
  • Circleville, OH
Posted

If a individual is selling a property that at one time was a primary residence, but has since been rented out to individuals. Can that person apply for a 1031 exchange for a property of equal value?

I haven't read the language concerning a 1031 as of yet in detail but my question is that could a person do this sort of like the 2.5 year primary resiedence exclusion (Differing capital gains on a primary residence). Renting it out for a short period and then moving in?

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