All Forum Posts by: Rachael K.

Thank you, Bill.  This is what I suspected, but not what I wanted to hear.  

Is transferring the 1031 status on a rental property you own to another rental property you already own possible? 

Thank you, Dave.  You've been very helpful and I appreciate your sharing your expertise. 

The very last part of my original question was whether I could transfer the 1031 status on this house that I'd want to move into to another rental I own? Or can I purchase a new rental property and transfer the 1031 to that new property, then move in to the original property? So house in California (property A) 1031 exchanged for house in NC (property B), can I buy a new property in NC (property C), transfer the 1031 from B to C and then move in to B without having to pay any of the original capital gains tax from A? ..if that isn't too confusing, hahah. Can this be done?

Thank you Steve and Dave for your responses to my question.  I have another!  This property we have 1031'd in North Carolina from a rental property we sold in California.  There is something called a California Claw Back. Would California still try to collect capital gains after changing the property to primary residence using Safe Harbor, living in the property for more than 2 years, and then selling the property eventually? 

Hi, I was hoping to get some clarification on the Safe Harbor law.  We are considering moving into our 1031 property and making it our primary residence.  We have rented it out the past 3 years. What happens with the capital gains taxes if this is done ... do they just disappear forever or will I only ever need to pay them if I sell this house?  Is it possible to transfer this 1031 to another property of mine?