1031 Exchange % Interest
Hello BP,
I am in need of your infamous brilliance. I am currently going through a 1031 exchange and wanted to ask a few questions about 1031 to understand the scenarios better. Thank you for any help you can provide!
1. I sold the home in my personal name (no one else was in the sale) and the funds were transferred into an exchange escrow account. Would it be possible to team up with another investor and do the exchange? Where the other investor is adding the additional down payment.
2. If the FMV equate to what was sold or greater because of the other investor, would I be subjected to any taxation?
Thank you for your help!
Tony