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Can I Exchange Two Rental Homes for One?
I'm wondering if anyone is an expert on or has experience with doing a 1031 exchange with two homes for sale at one time? I have a condo in St Petersburg, FL, and a home in Northern Colorado and I'm wondering if I can postpone my gain by selling the two at the same time - with the intent of buying one home in the Denver Metro area? Who's a tax expert?
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#2 1031 Exchanges Contributor
- 1031 Exchange Qualified Intermediary
- San Diego, CA
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#2 1031 Exchanges Contributor
- 1031 Exchange Qualified Intermediary
- San Diego, CA
Hi Casey,
Yes, you can absolutely sell two (2) relinquished properties and acquire one (1) replacement property and qualify for tax-deferred exchange treatment under Section 1031. The value of the replacement property must be equal or greater than the combined "net sale price/value" of the two (2) relinquished properties if you wish to defer all your taxable gain.
- Bill Exeter
