2 homes with 50% ownership in both - selling 1
Hello folks, I am new to the forum. This site came up in an internet search on the topic above. Thanks for your patience as I articulate the question.
This is what I want to do: I purchased 2 investment homes with a partner several years ago and we both own 50% of each. I would like to sell one home and by the partner out of the other with the profit from sale. Can I do this with a 1031 exchange? Logically, it seams that I should.
Thank you in advance