It must be a separate company whose only role is the 1031.2.

Feel free to message me separately.

Quote from @Jason Bohling: @Dmitriy Fomichenko here’s a link briefly describing what I’m talking about:https://www.cnbc.com/amp/2024/10/24/income-limit-for-0-percent-capital-gains-bracket-2025.htmlJason, you are describing selling long-term capital assets held in your personal name.Dmitriy is talking about doing a roth conversion.Two separate tax topics. 

The property has 7 acres with a 3/2 main house and a second separate 2/1 house (which also needs renovation) with its own drive.  

I was so caught up in the project in its entirety that it never occurred to me that they are 2 separate things.

It's a good little loophole for a short-term rental of your home, including renting it to your own separate business.

Trying to convert a basement into a separate unit.

We had a rental in FW & we kept a separate account for Cap X repairs and thankfully we did.

Establishing a separate entity, such as an LLC, for your rental property business could provide more flexibility in claiming deductions associated with business-related assets like vehicles.

A cost segregation study is a strategic tax planning tool that separates the assets that have a shorter useful life and can be depreciated over 5, 7 and 15 years from the residential rental property or nonresidential real property that are depreciated over 27.5 and 39 years, respectively.