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Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: SunshineGirl on October 15, 2013, 04:28:01 PM

Title: Has anyone done a 1031 exchange?
Post by: SunshineGirl on October 15, 2013, 04:28:01 PM
I have two older properties that I am considering selling in lieu of doing upgrades. I'd like to do a 1031 with both and buy one better property in a better neighborhood, and I'm looking to hear about anyone's experience in doing a 1031. Any special things to consider? Downfalls?

Thanks.
Title: Re: Has anyone done a 1031 exchange?
Post by: Another Reader on October 15, 2013, 06:16:36 PM
Carrying over basis does not always make sense.  You have a shorter depreciation window and not as much to depreciate.  If you have accrued "losses" from unused depreciation, it can sometimes make sense just to sell and start over with a new basis.
Title: Re: Has anyone done a 1031 exchange?
Post by: Blindsquirrel on October 20, 2013, 05:31:56 PM
  Have done several, I will never sell a house not on a 1031 if I can avoid it. The tax basis will step up when I bite the dust. The tax man can kiss my ass. Very smooth every time. Do need to make sure you can close in time limits though.