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Updated over 7 years ago on .
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1031 Exchange to S corp
hello I own an investment property (2 family house). I bought in 2002 for about 250k, now worth 1m with about 350k balance (equity 650k). I also own a business which is an S corp valued at 1.5m with 950K balance (equity 550k).
My goal is sell my house and use the proceeds (650K) and pay down my business. Is this possible with a 1031 exchange?