1 for 2 1031
I would like to do a 1031 exchange for 2 properties using 1 I currently own. Can I do this as long as I follow all of the identification and exchange time rules?
I would like to do a 1031 exchange for 2 properties using 1 I currently own. Can I do this as long as I follow all of the identification and exchange time rules?
Yes. You can identify up to three properties without any restriction, and you can purchase any or all of them as your replacement properties on a 1031 exchange. The only constraint is that all the replacement properties you purchase must be on your list of identified properties.
If you want to put more than three properties on your identified property list, the FMV of all properties combined can not exceed 200% of the FMV of the relinquished property, AND, you must purchase 95% of the aggregate FMV of all the properties identified.