All Forum Posts by: Mary El

I just moved my SFRs out of my name and into individual LLCs. For one property I want to do a 1031 exchange. Does my LLC have to hold the property for 366 days before I can do an exchange? I've own the property for 27 months.

Also, I lived in the townhouse as my primary residence for the 5 months. Does that create a problem for doing a 1031 exchange?

Timeline for clarity...

Bought townhome: Jan 2018

Made primary residence: July 2018

Moved out & rented it: Feb 2019

Transferred title to LLC (no tenant change): Jan 2020

Thanks in advance!