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Tax, SDIRAs & Cost Segregation

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Connor Allan
  • Financial Advisor
  • Buffalo, NY
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Can I do a 1031 exchange?

Connor Allan
  • Financial Advisor
  • Buffalo, NY
Posted Jul 9 2020, 06:12

Currently have 1 rental property in my portfolio for about a year now and recently received an offer. If I accept the offer, my plan is to use some of the proceeds to pay off student debt (which will incur a capital gains tax). The remaining proceeds I would like the invest in 1-2 rental properties and was wondering if I can do a 1031 exchange and avoid paying capital gains taxes. Thanks in advance for the feedback.

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