I want to do this to buy more real estate and not get hit with capital gains tax.
Can I use a 1031 tax deferred exchange if all the units in my condo complex were bought out by timeshares?
2 Responses to “Can I use a 1031 tax deferred exchange if all the units in my condo complex were bought out by timeshares?”
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Two questions……
How long have you owned your condo?
Is it your Primary Residence?
It must be your primary residence and have owned it to 5 yrs or more and lived in it for at least the past 3 yrs to claim a 1031 exchange.
I don’t think using it as a primary residence is a requirement for a 1031 exchange