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question about 1031 exchange and legal entities.
Quick question about 1031 exchanges and legal entities:
If hold title to a property in my own name and sell the property with a 1031 exchange am I allowed, at any point, to transfer the new investment property into an LLC or will I lose the tax deferment by doing so? Is there a holding period before I am allowed to do so? I typically hold title to investment properties in an LLC but the particular one that I am selling happens to be in my personal name.
Any advice or information is appreciated. Thanks in advance!