r/1031exchange

▲ 4 r/1031exchange+1 crossposts

1031 Exchange of its an LLC

Hi, I was on another sub Reddit about real estate investing, and I told someone that was seeking advice about putting a property in an LLC; that if the property was held in an LLC and your tax return listed it as a partnership, you could not do a 1031 exchange when you sold it.
I advised them to talk to a tax professional, as well as an attorney.
Someone replied to me “WRONG”. Just one word.
I don’t think I am , but am I?
(This is assuming that the person didn’t say I was wrong to recommend consulting an attorney and a tax professional. But you never know.)

reddit.com
u/RowInevitable7986 — 13 days ago