All Forum Posts by: Krystal Ahn

Can you change the ownership after 1031 exchange?

For a 1031 exchanged replacement property - can you change ownership without any tax consequences?

Current ownership: myself and my mom

Current Mortgage: myself

I want to change the ownership to an LLC that only has myself as a managing member.

Is there anyway we can change the ownership without having a tax consequence?

I did a 1031 last year - can I sell one of the 1031 properties to do another 1031?

Hello,

I am planning to selling my investment property in NYC 

cost $721,000

est. selling price $1,000,000

mortgage left $350,000

accumulated depreciation $100,000

And buy an investment property with a value

$400,000

The remaining money I have I want to help to buy a primary residence which as my parents are getting older and I have decided to get a duplex (two-unit) house to have my parents live in the unit.

I have heard that it is better to do a 1031 with same or larger value and then to do a cash out refi ....

It would be great if you could help me figure out how much my tax liability roughly would be if I do this partial 1031 with much lower value. 

Thank you in advance!