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All Forum Posts by: Christian Thompson

Christian Thompson has started 2 posts and replied 4 times.

Thanks for the responses, I appreciate the insight.

Scenario:

Sell a rental I've held for many years in an LLC. Net $250K

1031 the $250K into my former primary residence which has been a rental for the past year, but lived in 2 of the past 5 as my primary res. I hold title as an individual, so essentially the LLC would be buying it from me at fair market value.

Is this possible?

Are there arms length considerations?

Other considerations?

Your help is appreciated!

Post: 1031 - Does it need to be "Arms Length"?

Christian ThompsonPosted
  • Investor
  • Denver, CO
  • Posts 4
  • Votes 0

Thanks Dave! To clarify - he would be purchasing the property from his LLC in which he currently holds 50%. Still Good?

Post: 1031 - Does it need to be "Arms Length"?

Christian ThompsonPosted
  • Investor
  • Denver, CO
  • Posts 4
  • Votes 0

Question - I have a client who would like to sell his investment property, then purchase via 1031 a property owned by an LLC in which he has an ownership interest. Is this possible?