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Updated 14 days ago on . Most recent reply presented by

User Stats

16
Posts
5
Votes
Johnery Laurimore
  • Brooklyn, NY
5
Votes |
16
Posts

1031 Exchange into an LLC

Johnery Laurimore
  • Brooklyn, NY
Posted

Has anyone done a 1031 exchange from a property jointly held by two parties to an LLC owned by the same two parties? I have a property that is co-owned with my wife which I'm in the process of selling and would like to do a 1031 exchange but would like the new property to be held by a newly created LLC owned by me and my wife. I'm trying to determine how feasible this is.

  • Johnery Laurimore
  • Most Popular Reply

    User Stats

    53
    Posts
    32
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    Daniel Osman
    • Accountant
    • 1031 Exchange Qualified Intermediary | Nationwide
    32
    Votes |
    53
    Posts
    Daniel Osman
    • Accountant
    • 1031 Exchange Qualified Intermediary | Nationwide
    Replied

    @Johnery Laurimore two things will help provide you with the best response. 

    1) What state do you file taxes in? I see NY in your name
    2) How exactly is title held with you and your wife? Is it tenant in common, Tenants by the Entirety, or as Joint Tenants with Right of Survivorship

    business profile image
    Deferred.com — No Fee 1031 Exchange
    5.0 stars
    129 Reviews

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