converting 1031 to primary residence?

[Lubna Bushra]

Hi all,

Really hoping someone can help us. We bought a SFH as part of a 1031x and got a good deal. Fixed it over a year, rented it for two years. Despite trying, it has been vacant for 10 months now. We were thinking of renting our home (more desirable location) and moving in there. But we want to sell it this house eventually, how do we protect our gains from being taxed or minimize our taxes? Any suggestions appreciated. Thanks

[Lubna Bushra]

Great, thanks for your succinct response. We will follow this and save what we can!
Follow up question-- Once we move, we can still sell our current primary residence within 3 years (residence 2 of last 5 years) and that gain will be tax free, right?  

Thanks