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Retroactive 1031 exchange

820 Views | 1 Replies | Last: 6 yr ago by Ignatius_of_Silesia
chuckd
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AG
Can I buy the replacement first, then sell the capital gain burdened property?
erin2003
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AG
It is possible, but you have to set up an entity to do it. Read IRS revenue procedure 2000-37 and/or hire a company that does 1031 exchanges.

*I am a CPA, but not your CPA. Please consult your own advisor*
Ignatius_of_Silesia
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Read up on "reverse exchanges" and then seek the services of a competent professional. Note you only have 180 days to sell your original property after you close on the replacement property so delaying the purchase through all means possible is your best course of action so that you can find a suitable purchaser for your current property.
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