DianeW777
Expert Alumni

Investors & landlords

Yes, you should continue like the property was never traded. 

Yes you can change the address of the original asset(s). The only new asset should be the additional fees paid to make the 1031 exchange.  This buy-up, so to speak, is a new asset starting with the day the property became yours as the date placed in service.

 

Special Handling: be sure to answer "Yes" for Special Handling Required. This assumes those unsold assets were converted to personal use, and results in no gain or loss for the disposition. This is what you want for a 1031 like kind exchange.  

 

@nirbhee         

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