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Tag Archives: acreage

Can I 1031 Exchange the acreage near my residence?

Friday, February 11, 2011

Real Estate Held for Investment is considered like-kind and qualifies for 1031 Exchange. Your personal residence is considered Real Estate Held for Personal Use and does NOT qualify for 1031 Exchange. The scenario you describe is what is called a Mixed Classification. If all or some of the property you want to sell does not [...]

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How do we separate a house from our 1031 Exchange Replacement Property?

Thursday, December 30, 2010

If you are purchasing land through 1031 exchange for as your replacement property and the property includes a personal residence, you need to make an allocation of the substituted basis between the residence and the nominal land to be used as part of the residence and the remaining acreage to be held for investment . [...]

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