Updated over 9 years ago on . Most recent reply
1031 Exchange Specialist
Greetings to all. What an interesting forum! My name is Geoff Flahardy. I have worked with 1031 exchange investments for over 13 years specializing in fractional ownerships (DSTs, TICs). I am not an investment advisor but rather work on the issuer/sponsor side. I hope to be of service to those with questions on this investment structure.
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@David Morgan are you sure a 1031 is the appropriate vehicle here? Generally speaking, you receive a stepped up basis when the property is passed to heirs, meaning if you sell it soon after, you will incur a minimal tax liability.
What was the value at the time of inheritance, how long have you held, and what is the value now?