Non car?- Rental property trade instead of selling

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NWYENKO · #1 08-16-2004, 10:47 PM

Pantera, it is possible to do a 1031 Tax Deferred Exchange. You have 90 days to identify the replacement property and 180 days to close. You need to find a tax deferred exchange intermediary in your area , possibly in the phone book or ask your tax advisor. You have to make sure you are dealing with someone who specializes in these things. All the I's have to be dotted and the T's crossed! They work great! Jim

Pantera · #2 08-17-2004, 05:47 AM

I had heard of something like that. I will look it up and see just what the rules are so that I can be sure to dot all the i's.

Thanks all for your help.

The GF thinks I should sell one of them on a contract for deed but I still think I am going to have to pay the same tax just on a defered pay out basis.

55chevy · #3 08-17-2004, 05:58 AM

Hey Larry.. wait till after this Wednesday.. you just may have yourself a new renter....

but let's hope not

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