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Updated about 4 years ago,

User Stats

10
Posts
2
Votes
Stanley Lawrence Jr
  • Rental Property Investor
  • O'Fallon, IL
2
Votes |
10
Posts

Section 121 and 1031 For Quadplex Being Sold

Stanley Lawrence Jr
  • Rental Property Investor
  • O'Fallon, IL
Posted

Hello,

I'm new to the forum and this is my first post. I live in the STL area and I am selling a quad plex where I previously lived in one unit. Details are below, but my question is could anyone recommend a CPA to help me determine the amount of funds I can apply to Sect. 121 vs 1031?

Property Info

Sales Price: $529k

Purchase Price: $398.5k

Primary Residence time in 1 unit: 25 months

Moved out 17 months ago

Captured depreciation on taxes every year for the 3 units that were rented.

Thanks for any recommendations!

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