Discussion:1031 exchange 1 for two

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Discussion Forum Index --> Tax Questions --> 1031 exchange 1 for two

Diego (talk\|edits) said:	20 February 2006
Can one do a 1031 and exchange 1 rental property for 2 rental properties.

Diego (talk\|edits) said:	21 February 2006
For those interested I did find an exception to the 1031 general rule. It is contained in the regs 1.1031 (j) -1 which does deal with multiple properties, creating an exchange group. Reading for tonight.

MAPBUSINESS (talk\|edits) said:	21 February 2006
Check www.timcorfinancial.com, you will find a pdf file with a lot of Q&A, plus IRS reference and clear examples. They are accomodators.

McBroomz (talk|edits) said:

22 December 2008

i have a client who has exchanged a rental property for a property which will be 70% investment and 30% personal residence.

the down payment came almost 100% from the exchange ($8,000 was outside the exchange)

my question is do i have to pick up as boot 30% of the exchange money since that is the personal portion of the purchased property or can I allocate all the down payment to the investment portion?

thanks

McBroomz (talk|edits) said:

22 December 2008

i have a client who has exchanged a rental property for a property which will be 70% investment and 30% personal residence.

the down payment came almost 100% from the exchange ($8,000 was outside the exchange)

my question is do i have to pick up as boot 30% of the exchange money since that is the personal portion of the purchased property or can I allocate all the down payment to the investment portion?

thanks

McBroomz (talk|edits) said:

22 December 2008

i have a client who has exchanged a rental property for a property which will be 70% investment and 30% personal residence.

the down payment came almost 100% from the exchange ($8,000 was outside the exchange)

my question is do i have to pick up as boot 30% of the exchange money since that is the personal portion of the purchased property or can I allocate all the down payment to the investment portion?

thanks