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Apr 22, 2021
3:33:10pm
Wizbang All-American
I just did this with the rental I sold, it was fairly straight forward.
My friend, who is a realtor suggested a company that manages the exchange and escrows your money received from the sale of your present property. You have to indicate that you are using the property as a 1031 exchange before closing, however. Also, no lawyers were involved and it only cost me $1000 to save around $20,000 in taxes.
Wizbang
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Wizbang
Joined
Jun 3, 2003
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May 5, 2024
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3,053 (19 FO)