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Investors & landlords
Simply put, it is fair market value for fair market value (if the FMV of your property is $600k, then the FMV of the replacement property needs to be at least $600k to avoid boot).
Again, you cannot do an exchange with a related party as has been noted previously.
Further, you should use a qualified intermediary if you intend to do a 1031 exchange.
‎June 28, 2022
3:20 PM