Joseph asks…1031 Tax-Deferred Exchange Question?Hello and thanks in advance.
Scenario:
"John" is a first time home buyer (primary residence, lives alone, 30-yr traditional loan) who may want to move in a few years. Call it House A.
John wants to move into another property (House B) and "convert" it to his primary residence while renting out House A.
Questions:
Can House A be deemed a rental property? If so can John then use a 1031 tax exchange and exchange House A for another rental property (House C) whenever he wants to make the
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