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Updated about 2 years ago on . Most recent reply presented by

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Matt Henshaw
  • Investor
  • Smithville, MO
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1031 Exchange (Like-Kind Exchange?)

Matt Henshaw
  • Investor
  • Smithville, MO
Posted

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
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
Replied

@Matt Henshaw

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.

  • Michael Plaks
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