All Forum Posts by: Brett Mountain

@Dave Foster thanks for the reply. I’ll be sure to pass along the info.

@Wayne Brooks they inherited in 2015 and it’s appreciated quite a bit: valued around 1.8M in 2015 and sold for 2.5M if everything goes through. They have a 1/8th share so about 87,500 in gains.

My in-laws inherited a commercial property (warehouse) and it’s in the process of being sold. Wondering if they have the option of doing a 1031 exchange on their portion of the sale (there are other siblings that will get their cut). If they can, would it have to be for another similar property or could it be for something else (vacation rental, multi-family, etc.). They don’t have any real estate other than their primary residence currently so they haven’t thought through the options and assume they will just have to pay capital gains on their portion of the inheritance. Thanks for the help!