Updated about 5 years ago on . Most recent reply
1031 exchange question
I'm interested in doing a 1031 exchange, but the answers I've found online have been murky for my specific question:
I want to 1031 exchange my investment property in Ohio for a primary residence in California. Is this possible? I've seen conflicting information regarding whether it is eligible for primary homes.
Any insight is appreciated
Most Popular Reply
It can be. You’ll need to spend everything you got for the investment property and have the same debt load (minus some closing costs). You’ll also need to rent the future home for about two years before you move in.