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All Forum Posts by: RM Jay

RM Jay has started 1 posts and replied 3 times.

Post: Split use /STR for future 1031 exchange

RM JayPosted
  • Posts 3
  • Votes 0

@Bill B. Good points. Many things to consider and will model this and keep CA FTB in mind :)

Post: Split use /STR for future 1031 exchange

RM JayPosted
  • Posts 3
  • Votes 0

Thanks! This is helpful as we plan for the ADU.

Post: Split use /STR for future 1031 exchange

RM JayPosted
  • Posts 3
  • Votes 0

I am in the process of converting our home to STR for 24 months to qualify for a future 1031 exchange. The house is in CA. I also have plans to convert a detached garage to ADU. My plan is to have home on STR with ADU for very limited personal use. This will not be my primary residence. Would IRS consider the ADU part of the main home and limit my use of the ADU for 14 days/10% of rental period to qualify for 1031 Exchange when I sell the house.
Thanks