1031 Exchange into an LLC

[Johnery Laurimore]

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.

[Daniel Osman]

@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