Is there any issue with doing an 1031 exchange in Denver and buying a property in California? At least there's no clawback :\
As long as the exchange is for like-kind property, I don't think there's a problem.
@Tambi Harwood , the location and type of property don’t matter as long as the property is real estate held for investment and located in the US or a couple territories like the USVIs Guam or the Northern Mariana’s wherever they are!
@Tambi Harwood as long as your property that you are selling is not your residence, you can 1031 the monies into any state as long as it is going back into a investment property. I just did this for a guy where he sold a multi million dollar rental home in CA and we closed on on over $12 million in commercial retail assets in TX, IL and NV.
@Tambi Harwood I'm a Qualified Intermediary with a lot of knowledge on this exact subject. The answer is definitely yes you can! As long as the properties are investment property, they can be exchanged for one another.
No issue from a federal tax perspective. But if you want to 1031 out of your CA property- then there will be a clawback ;)
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