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Get your taxes done using TurboTax
You would have to amend and file Form 8824, but your transaction almost certainly does not qualify.
First, the exchange is required to be either business or investment property; property held strictly for personal use (such as a main or second home) does not qualify.
Further, time constraints apply with respect to identifying the property and closing the transaction. In that regard, you can neither be in receipt of title to the replacement (new) property or funds from the sale of your property; you generally need to use an intermediary.
See https://www.irs.gov/instructions/i8824#idm139831911464752
‎December 15, 2020
8:11 PM