Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [1031-exchange]

24 questions
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As a non-1031 house seller, why do I care if the buyer wants to do a 1031 exchange

I currently have my house listed for sale. A potential buyer came by today, liked the property and, as he was leaving, asked if I would sell as part of a 1031 exchange. I understand why he would want to do a 1031 exchange. However, I don't…
Dave D
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Sale of a rental property, looking to buy a new house that the seller can't move out of right away

I recently sold my rental property (owned for 5yrs, rented out for the last 3.5yrs) and netted $50k. I am currently under contract to purchase a new house for $55k down that I plan on living in. The seller is having a hard time finding a new…
Nick Schild
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Which professionals should I work with for a 1031 exchange?

I know what a 1031 exchange is, and it's complex enough to know that I need help with it. The problem is I'm not sure who I need help from. My property I'm selling is about to start escrow and my realtor doesn't really know anything about 1031s.…
Daniel Kaplan
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Can I 1031 split real estate, then move into both sequentially?

I have an investment property where I have a capital gain of approximately 700k with no mortgage. I understand that you can move into an investment property, convert it to your primary residence and stay for multiple years before selling it to get a…
Matthew
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How to evaluate options for selling a rental property

I own inherited rental property in the San Francisco Bay Area, and have been thinking about doing a 1031 exchange into Chicago, where I now live, for a few main reasons. One, I inherited the property with a family member and would like to be in…
fox
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1031 exchange to buy out another party?

Can a 1031 exchange be used to buy out another owner of a residential rental property? Say two people own one rental house 50/50. There is no assumed business name, LLC or partnership. The deed has both their real names on it. They have never filed…
turtle
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How will my 1031 boot be taxed?

In the USA I'm working on a 1031 exchange. I'm having trouble finding information on how a boot (if I take one) will be taxed. I'm closing on my sale for $700k. I will have a capital gain of $550k. I have a mortgage of $200k. If I buy something new…
Matthew
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Am I required to select properties I identified in my 45 day 1031 window?

I'll be doing a 1031 exchange. I know that I am required to identify replacement properties within a 45 day window and close within 180 days on a replacement. Am I required to choose one of the properties I identified in my 45 day window? What if,…
Matthew
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Form 1099-S issued in conjunction with 1031 like-kind exchange

During 2022, I performed a 1031 like-kind exchange, in which I sold a piece of undeveloped land, and used the proceeds towards purchase of a vacation rental house. (This is a way of deferring capital-gains on the property that was sold). The lawyer…
RustyShackleford
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Does sale need to come before purchase to be considered a like-kind exchange

Does sale need to come before purchase in order to be considered a like-kind exchange and avoid capital gains tax? When selling your home (primary residence) and purchasing a new one does the sale of the existing home need to come before purchase of…
Stratus3D
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Can you buy back the property you sold for a 1031 exchange

I am trying to get creative in order to make something work... I have 4 mortgages right now. I want to add a 5th, but it would be a jumbo loan. My lender informed me that adding a jumbo loan cannot be done unless I have 3 or less prior mortgages.…
Eric Olson
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Can I remove commissions from my 1031?

In California, let's say I sell a property for $100,000, paying a $6000 commission. Is my 1031 exchange amount $100,000 or $94,000?
Matthew
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opportunity zone vs 1031 exchange

From what I read opportunity zones are more flexible. For example, if you have 1M property with 600K loan and you want to replace it with thru 1031, you cannot just go for a 400K property ( which is your equity ). You must find another 1M worth…
Haluk Karamete
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1031 exchange and cash boot

My question is about 1031 exchange and whether I can get rid of the mortgages from my life once and for all, by investing only with the equity I got? Looks like this great idea is not possible. The question is: Can the replacement property be around…
Haluk Karamete
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1031 exchange a quarter share of a condominium

I am selling a quarter share of a condominium that I have rented out for the last 2 years. Can this be put into a 1031 exchange?
celticfunding
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