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Updated almost 6 years ago,

User Stats

55
Posts
10
Votes
Marysue Connelly
10
Votes |
55
Posts

1031 Exchange into a LLC

Marysue Connelly
Posted

HI, We are trying to 1031 a single family rental currently in our own names (husband/wife) to a multiplex under a LLC with both our names on the LLC. We are getting conflicting advice from attorney and 1031 specialist. 1031 specialist says we must buy and sell under same tax ID. If we get a LLC we will have a new EIN number. Seems like we will have to buy the property under our own names then wait 2 yrs to transfer it to a LLC. Are there any CPAs out there who could give me their advice. Seems like this shouldn't be that hard?

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