Questions about 1031s and partnerships
Hello:
To this point, I've always bought investment property as an individual. I'm about to form a partnership to buy property with someone, and I'm not sure how the 1031 rules might apply here.
1. Can I take investment gains from a property I own as an individual and do a 1031 exchange into a new partnership that would own new property?
2. After I make gains in the partnership, can I 1031 those back to personally owned property?
Thanks.