All Forum Posts by: David Pedersen

Thank you Dave! This is fantastic. Yes, I have lived in the 50% for two of the last five years and my Schedule E does reflect the income portion of the building. My plan would be to buy a less expensive multi-unit investment property, ideally all cash, as a 1031 exchange and put the $500k personal exemption down on a nice single-family home to live in. Does this all sound right still?

I own a 4 unit apartment building, live in 50% of the building and rent out the remaining 50%. I'd like to sell the building and do a 1031 exchange for the 50% share that is income property by purchasing a like-kind property, and take the $500k personal capital gains exemption (married) for the other 50% in which I reside. Is this possible? Thank you for any insight you can provide.