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1031 Exchanges

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Jacob Thompson
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Questions about 1031s and partnerships

Jacob Thompson
Posted Aug 3 2008, 10:47

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.

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