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The 1031 Exchange Institute

Welcome to The 1031 Exchange Institute™. The 1031 Exchange Institute is your complete online resource for 1031 exchange, 1033 exchange, 1034 exchange, 721 exchange, 453 installment sale and 121 exclusion information.  Information will also be provided regarding Self-Directed IRAs, including Traditional IRAs, ROTH IRAs, SEP-IRAs and SIMPLE IRAs. 

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1031 Exchange Discussion Forum > Alaskan home >> Canadian duplex?

I still own my first house but have rented it out since Dec 2002. The mortgage will be paid off next year so I will have at least $400k equity. I live and work in Tucson and paid cash for my home in 2010. I would like to buy a duplex near Vancouver, BC and rent out half and use the other half for a summer home. Any way I can apply a 1031 exchange here?
December 3, 2011 | Unregistered CommenterTaliesin
No, unfortunately not. Your relinquished property and your replacement properties must be all U.S. Properties (all domestic) or they must all be non-U.S. Properties (all non-domestic). You can not exchange U.S. Properties for Canadian Properties.

You could sell your U.S. Property and acquire another U.S. Property that is close to the border but still inside the U.S. and qualify for 1031 Exchange treatment. If you rent out half of the duplex and use the other half as your vacation home, the value of the half held as rental property must be equal to or greater than the rental or investment property that you disposed of as part of your 1031 Exchange.

See article located at: http://www.exeter1031.com/article_qualified_use_property.aspx
December 5, 2011 | Unregistered CommenterStaff