Skip to main content
October 7, 2024
Question

Conversion of Sale of Rental Property Capital Gains to Primary Residence Mortgage Exemption or Deferal

  • October 7, 2024
  • 1 reply
  • 0 views

Is there a code that allows for the conversion of the sale of rental property capital gains income to primary residence mortgage as an exemption?   Or if not exemption a deferal much like a 1031 like-kind conversion?

1 reply

Employee
October 7, 2024

No. To qualify for a 1031 exchange, the new property must be "like-kind" to the original property, meaning it must be held for investment or productive use in a trade or business

Employee
October 7, 2024

 

 

October 8, 2024

No sale was made yet