1031 exchange - Posted by Ed

Real Estate Investing Real Estate Law
1

Posted by BTI on December 03, 2006 at 21:08:01:

David

95% is good enough. When I first did 1031’s it didn’t matter where on earth the property was, but to many people were stiffing the IRS by transfering assets to another country and then selling the property there without the U.S. getting paid or even being aware of the sale. Cant remember what year it was put into effect but do remember having to throw one leg out of a multiple exchange because of it.

BTI

2

1031 exchange - Posted by Ed

Posted by Ed on December 02, 2006 at 14:01:10:

My partner is selling his property in LA, Ca to purchase a Condo in London, UK.
My question is:
Can an investor do a 1031 exchange if the new property he/she intends to purchase, is located outside the USA e.g. London, UK.
Your help is appreciated.

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Must be Domestic for Domestic - Posted by William L. Exeter

Posted by William L. Exeter on December 06, 2006 at 24:38:40:

You can exchange foreign for foreign or domestic for domestic, but not foreign for domestic. Sorry.

Bill Exeter.

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Re: 1031 exchange - Posted by David Krulac

Posted by David Krulac on December 03, 2006 at 19:57:08:

I’m not 100% on this (about 95% certain) but I believe that a 1031 is only good for like kind exchange in the 50 states and US Territories.

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Re: Must be Domestic for Domestic - Posted by Ed

Posted by Ed on December 06, 2006 at 21:47:04:

Thanks. Appereciated.

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Re: 1031 exchange - Posted by Ed

Posted by Ed on December 04, 2006 at 22:32:14:

Thanks David. That is good enough for me. Appreciated