1099 Exchange options with Spouse
My wife owns a property that we've been renting out for the past 5 years. We're hoping to sell it in the next couple of months and 1031 into a larger property.
To qualify for a larger property we'll need to use my income but the property is solely in her name (deed and mortgage) and due to 1031 rules it's unclear if I'll be able to get added to the replacement property.
We've been filing taxes jointly for 4 years and some people I've talked to have said that's enough to make this work.
Does anyone have any experience with this or know of anyone/resources in Massachusetts?
Thanks!
Jay