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Tag Archives: personal residence

Is it possible to 1031 Exchange my personal residence for a business-related property?

Monday, January 17, 2011

The IRS had written some very clear and concise rules regarding whether your personal residence would ever qualify for 1031 Exchange. We have seen several articles recently where some tax guru has worked up a strategy for making this happen. And there may be some circumstances where this might have worked. But the facts are [...]

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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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