How Much Personal Use is Allowed after 1031 Exchanging into Rental Pool Replacement Property?

 Replacement Property Personal Use

How much personal use, and business use (for repairing and maintaining) is allowed after 1031 exchanging into a rental pool replacement property?

Maintaining vs. Improving

Any day that you spend working substantially full-time repairing and maintaining (not improving) your property is NOT counted as a day of personal use. Do not count such a day as a day of personal use even if family members use the property for recreational purposes on the same day.

Additional Resources

Here are some additional resources on this topic:

Be sure to talk with your CPA or tax accountant about your specific situation.

  • 1031 Hotline: If you have questions about personal use when it comes to replacement property, feel free to call me at 612-643-1031.

Defer the tax. Maximize your gain.

 

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