Can I 1031 exchange comm. land for residential homes? Is there another way to offset capital gains?

Chosen Answer:
You can do a 1031 exchange and exchange from a commercial property into a residential home, as long as the commercial property AND the residential home are held for investment, income, or business intent.

And, the gain is not offset, rather it is deferred to a later date. So, you defer the capital gains on the commercial property, but they transfer over to the residential home and if you sell the home that gain would be taxable (unless you did another 1031).

For your situation, where you are selling an investment

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