All Forum Posts by: Angela Simon

Thanks, @Dave Foster. Yeah, it seems pretty complicated. I really appreciate your response. Time for plan B

Ahh I see. Appreciate you taking the time to give me information and advice. We have some decisions to make and this info definitely narrows down our choices.

@Bill B. Thanks so much for your reply. I pretty much figured it wouldn’t be eligible. Hoping against hope lol.

We’ll look into purchasing a different property when we decide to sell. 

Our rental property that we intend to sell is currently a long term rental. We haven’t lived there for several years. Utilizing a 1031, could the new property be purchased as our primary address? If not, would it matter if we rented it as a short term vacation home? Thanks again!

Hello! My husband and I currently have a rental home in CA and want to utilize a 1031 exchange to build an ADU on an existing, non primary residence in FL.

The existing Florida home is co-owned with our son, and this is currently HIS primary residence, not ours. The ADU would be utilized as a short term vacation rental.

Would this situation qualify? If so, what are the time requirements for construction? Thanks for any helpful information!