The 1031 Exchange Institute

Welcome to The 1031 Exchange Institute™. The 1031 Exchange Institute is your complete online resource for 1031 exchange, 1033 exchange, 1034 exchange, 721 exchange, 453 installment sale and 121 exclusion information.  Information will also be provided regarding Self-Directed IRAs, including Traditional IRAs, ROTH IRAs, SEP-IRAs and SIMPLE IRAs. 

The 1031 Exchange Institute is dedicated to educating and informing real estate investors and their advisors on the benefits of 1031 tax-deferred exchanges and other tax deferred and tax exlcusion strategies so they can make better informed investment decisions.

1031 Exchange Discussion Forum > Seller can not find the right property. Will not sell until located. Could be year or more>

I have a partner in a duplex. I would like to by her interest and she would like to sell. We have had the property for many years and the gain is quite substantial. She would like to do a 1031 and buy another property.

The problem is she can not locate the "right" property. (Marin County, CA) In the mean time she does not want to contribute to some large scale repairs and deferred maintenance the property needs.

How can we make the sale, defer the taxes, and let me get on with the repairs. I have the cash to close now. She won't sell until she locates her exchange property.

The duplex was never used as a rental and has not been depreciated. It was a two unit vacation home divided for use via a Co-Ownership Agreement. I have looked at a Structured Sale but it has some draw backs regarding the transfer to heirs and the step up valuation.

Any strategies or advise would be most appreciated.

Don Scott
February 12, 2013 | Unregistered CommenterDon Scott
How did you treat the duplex for income tax purposes? How did you report it? Was it only used for personal use?
February 27, 2013 | Registered CommenterStaff