Discussion:Exchange real estate for share of LLC
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Richardsfo (talk|edits) said: | 17 December 2007 |
| Question - does anyone know if there is a way to do a 1031 exchange in this scenario -
2 business partners own an LLC --- a small design firm. They also own a residential property together - which they use for business. They are no longer wanting to work together and have decided to exchange the business and the property - 1 will take the others 1/2 interste in the home in exchange for the other;s 1/2 interest in the LLC - both are valued relatively the same...can they do a 1031 exchnage here? Or any other ideas? r | |
| 17 December 2007 | |
| No partnership interests are specifically excluded from 1031 exchanges | |
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