1031 exchange for a two family row home

[Ray Young]

I currently own and live in a two family row home. I live in one unit and rent out the unit. I report the rental income on schedule E on my personal 1040 along with applicable expenses (ie 50% of the yearly property tax). I am now looking to sell the property to buy another property.

Has anyone had any experience with doing a 1031 exchange on half the property and then using the $250k personal exemption on the other half? The title company is saying they have seen it before but I’m not having much luck seeing definite answers online.

Thank you!

[Scott Wolf]

@Ray Young, yes it can be done.  You need an attorney and CPA that know what they're doing.  Where are you located and are your gains over $250k?