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Get your taxes done using TurboTax
Hi @jimk719 !
Thank you for joining us today!
Yes! You can sell and then purchase a like kind property in another county. The location of the property does not disqualify it from being a 1031 exchange. Keep in mind that 1031 exchanges can be complex in other ways. There are strict rules regarding timing and the types of assets that qualify. Using a qualified 1031 intermediary and a tax professional can help ensure that the transaction is performed in compliance with the IRS rules and you have an appropriate tax deferral strategy.
Thank you!
‎June 28, 2023
1:01 PM