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1031 Exchanges

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Sara Peak
Pro Member
  • Investor
  • Louisville, KY
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32
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1031 exchange into property owned

Sara Peak
Pro Member
  • Investor
  • Louisville, KY
Posted Jul 2 2020, 07:32

Tax people! Here's something I would love assistance with. I'm trying to get creative here and wonder if there is any possibility to what I am trying to consider. Currently, I own 2 rentals. One SFH, one six plex. The 6 plex will soon sell and I obviously will take the proceeds and do a 1031 exchange. Is there any way i can take those proceeds and put them into the SFH that I already own? Like, to pay down the debt on it? Is there some kind of loophole or arrangement where this would qualify as an exchange? Any assistance appreciated. Thank you.

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