All Forum Posts by: Steve Hungerford

 In other words this is a gray area ? There are not clear rules in place as to how to allocate portions to a residential property like this. That means each CPA decides how they want to do it.

Yeah my question was more for when its not easy to tell how the investment portion is valued, like in the case of a single family residence with an ADU. Trying to figure out how IRS allocates things when they are not clear cut.

Hello,

Here is the scenario. An investment property (residential-rental) that would be 1031 into a bigger more expensive residential property. Part of the property would be used as a primary residence and part as an investment. Cash above what would be 1031 over would be for the primary residential portion. Likely a property with an ADU that could be rented out. Or developing an ADU/Guest House on the property to rent out.

 Very interesting and good to know. I thought the IRS had a way to account for it!

 What is the "they" that cannot be and what do you mean "combined" ? This is not about Dave or "my guy" or go with this or that guy, thats simple talk. You obviously are not an open mined or educated man. You just want to put me down for some silly reason. We should be discussing things here. The idea of a discussion forum should be open and honest discussion. Sharing information and encouraging each other. Not what goes on here on the thread.

 This is a discussion forum. If every answer is go to your QI then there is no purpose in the forum. People that want to dicuss here is who I want to talk with, not the likes of yourself. Please just skip over my post and lets talk with people that want to share openly and not just pimp stuff online and hide information.

-Date and purchase price

-what dates it was your primary residence

-what’s dates it was used as a rental property

-anticipated sale price and date

 I have talked to a QI and this is what they told me. This discussions devolve into I know more than you. but they still have no answer themselves. Funny. Not talking about you, just in general. 

 This is the case. I didn't want to take things in this direction and make it confusing but it is an investment property now but was a residential property before that.