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Is it possible to 1031 from personal to partnership?
Hi all,
Is it possible to do a 1031 exchange of a personally owned property and move it into a property owned by an LLC as part of a partnership? In reading other 1031 questions regarding LLCs, I see some drawbacks but am curious if this is possible. Is one option to complete the 1031 outside of the LLC and then convert the property over to part of the LLC?
This question is stemming from trying to find greater balance within the partnership in terms of capital committed. My wife and I have a lot of equity in one property but are less liquid than our partner, so curious on our options here.
Thank you in advance for the insights!