Updated 5 months ago on . Most recent reply
1031 Exchange from Partnership
I own several rental properties in an LLC with 2 other partners. This year I'm going to be leaving that partnership and the other 2 partners are buying me out. Is it possible for me to do a 1031 exchange and buy other rental properties so I don't need to pay tax on that money?
Most Popular Reply
absolutely. Weather you own 100 % of a property or 10% of a property if you are looking to do a "likekind exchange" of property, i.e. 1031 exchange, you can use this process for that.
I would be happy to recommend someone for you that I have used personally a few times if you want to ask additional questions. I am sure guys like @Dave Foster can provide some additional insight here as well.
- Jared Smith
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- 901-560-9979
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