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Investors & landlords
If you received the proceeds of the sale a opposed to them being held by an intermediary, that would invalidate the sale as being considered a like kind exchange. Also, by renting the house to a relative below market value, you are using the house for personal purposes as opposed to business purposes which would also disqualify the disposition as being a like-kind exchange, as it isn't an exchange of business property for business property.
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March 22, 2022
11:51 AM