Discussion:1031 question
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Discussion Forum Index --> Advanced Tax Questions --> 1031 question
Discussion Forum Index --> Tax Questions --> 1031 question
| 19 January 2009 | |
| I have a client that wants to exchange a piece of property for a 40% interest in another property. The property is similar, but im not sure if you could do a 1031 if you are giving up 100% of property for a portion of another property.
Also, they are related parties, dont think that would matter. Any thoughts? | |
| 19 January 2009 | |
| Do a search on "TIC" or "Tenants In Common" in the yellow box
<------------right there | |
| 19 January 2009 | |
| The first part of your question presents no problem - 100% ownership is not required.
I have not researched the related parties issue, but I would do so if I were in your shoes. | |
| 19 January 2009 | |
| Thanks, I researched the related parties issue and the main thing I found was the holding period after the exchange needs to be 2 years. | |
| 19 January 2009 | |
| You need a q.i. who would be able to answer the details of the question. | |
| 19 January 2009 | |
| Blrgcpa,
I dont think they planned on using a Q.I. They were going to do the exchange directly between the 2 parties. | |
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