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1031 Exchanges
HomeForums1031 Exchanges1031 Exchange Scenario - Purchase a Duplex Live in one side?
Account Closed's profile image
Account Closed's profile image
Account Closed
  • Contractor
  • from Brooklyn
  • Member since Jul 2, 2011
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • Contractor
  • from Brooklyn
  • Member since Jul 2, 2011
Connect
Account Closed
  • Contractor
  • Brooklyn
4
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1031 Exchanges

1031 Exchange Scenario - Purchase a Duplex Live in one side?

Account Closed
  • Contractor
  • Brooklyn
Posted Mar 30 2015, 15:00

Hi Folks,

I'm afraid that I'm going to be paying some Cap gains this year on a property I've had rented for a few years.  I used to live there, but I have rented it for too long.  

Would it be possible to 1031 and purchase a duplex, but live in one side.   One side for tax purposes would be rental property.  Has anyone lived in one side of a duplex.  How did you treat the property on your taxes?

Thanks!

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