Home Sale. 1031 Exchange?
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Thanks for responding. Like I said, I vaguely recalled something about one-time and age ~ 65 y/o, but couldn't pinpoint any of that in current Sec. 1031 reg info. These things change over time, so it can be difficult to keep up w.
As I read it, max time between selling 'relinquished' prop & buying 'replacement' prop is 180 days. I did not look up the M's buy & sell dates, as principal residence does not qualify for a 1031 exchange. Again, thanks for your posts.
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@BuySellTradeThink I posted already but what I posted about the 1031 exchange is 20 years out of date and I am far from a professional anything at present but saw 1031s used by clients and for my own accounts in 1980s and 1990s. Pretty sure the sale of home was a one time exclusion at the time. So I am off as far as the current specifics, hunkered down in home I've been hunkered down in since 2003 and having sold all other real estate one owned. Bu the overlap of buy and sale by BM could possibly be for 1031. Probably means nothing but could be reason transactions not quite so nefarious.
Thanks for responding. Like I said, I vaguely recalled something about one-time and age ~ 65 y/o, but couldn't pinpoint any of that in current Sec. 1031 reg info. These things change over time, so it can be difficult to keep up w.
As I read it, max time between selling 'relinquished' prop & buying 'replacement' prop is 180 days. I did not look up the M's buy & sell dates, as principal residence does not qualify for a 1031 exchange. Again, thanks for your posts.