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Investors & landlords
In order to qualify for a like-kind exchange, both the relinquished and replacement properties need to be held for productive use in a trade or business or for investment.
See https://www.law.cornell.edu/uscode/text/26/1031
If you are interested in doing a Section 1031 exchange in the future, you should do a search for a "Qualified Intermediary" in your area.
‎July 4, 2022
7:39 AM
1,478 Views