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1031 Exchange (Like-Kind Exchange?)
I have been trying to do some research on this question..... if I sell some of my single family houses could I exchange (1031) and purchase a storage unit business/property? Would this be acceptable under the new rules for 'like-kind exchange'?
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Michael Plaks
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
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#1 Tax, SDIRAs & Cost Segregation Contributor
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- Houston, TX
Yes, you can exchange residential properties into a storage facility. This has not changed.
Just remember that you cannot sell and then start an exchange. Need to start the exchange process before you sell.