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by Domenic_S
3717 days ago
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For 1), you must have owned the home for 2+ year to qualify. If you're moving under 2 years for a "qualified reason" (death, birth of multiples, 50+ miles closer to work) you can take a pro-rated deduction. For 2), you cannot do a like-kind exchange for residential property that you live in as your primary home. |
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For (2), if you convert the residential property into a business by renting it out, at what point can you do a 1031?