1031 exchange rental to small livestock farm

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Okay, so what my husband and I want to do with our rental property when it sells is buy a small livestock hobby farm consisting of chickens/goats and a dog kenneling, and or a small organic vineyard.   This means we have to reside obviously on property.  Our residence of course would be partially used as an office to answer calls, arrange business transactions etc.   Will this qualify for a 1031 exchange and how would we list it on the exchange.    

@Katharine Sherback , at least @Brad Hammond still has his.  Of all the things I've lost I do miss my mind the most!

But as regards your 1031 that is no problem.  This could act just like a much larger commercial farm just on a smaller scale.  The farm consists of two properties - one is your primary residence which would fall under the primary residence rules.  And one is the investment portion used for your business.  As long as the investment portion of the new property equals or exceeds the value of what you would be able to defer all tax.

The only concern is in your use of the word "hobby".  The IRS does not like hobby's because they don't think you're really trying to be business people.  But are taking the tax deductions of a business.  But as long as you are using this legitimately to make money then the investment portion would indeed qualify for a 1031.

And I think that sounds like an awesome idea!!

Yes and that portion broken up and used exclusively for the air bnb is also counted as investment space.  For you the office/storage/processing part of your primary could also be used to meet the investment requirement.  Just like a home office.