Skylane
Level 11
Level 11

Not sure I'd want to go the 1031 route....

When you sell and buy property as part of a 1031, both the sale and purchase need to be arm's length transactions. This means you can't engage in transactions with family members or other parties you have a personal or close relationship with as part of the exchange.

 

Pay the CG on the sale.... Say thanks to dad for the gift....   stay out of jail...

 

If at first you don’t succeed…..find a workaround