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For many who convert your main the place to find accommodations possessions (or use an element of the dining area getting active have fun with for the a trade or team such as Rev. Proc. 2005-14, instances step three6), the newest exchange rules under part 1031 and you may exception of cash regulations significantly less than section 121 could possibly get each other pertain.
If the standards regarding each other parts 1031 and you may 121 is fulfilled, this new part 121 difference was used earliest to help you know acquire; point 1031 up coming can be applied, along with any gain attributable to depreciation deductions. Any money gotten in exchange for the fresh new local rental property is pulled under consideration in order to new extent the money is higher than the part 121 excluded gain on leasing property given up regarding the change.Leer más »To find out more about including-kind transfers, select Club