[WSBAPT] 1031 exchange question

[Bryce Dille]

The short answer is only the proceeds of the sale of investment real property can be used in a 1031 tax deferred exchange to acquire other investment real property

Bryce H. Dille
Dille Law, PLLC
2010 Caton Way SW Ste. 101
Olympia, WA 98502
Office: 360-350-0270
Cell: 253-579-5561

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Business Entity Creation and Management, Business, Government and Tax Law, Real Estate and Land Use, Residential, Commercial and Condominium Development Real Estate and Commercial Transactions & Closings, Including Performing Services as IRS Section 1031 Exchange Facilitator Estate Planning, including Wills and Trusts, and Probate Administration Representation Homeowners/Condominium Association Real Estate Developments Real Property Foreclosures and Forfeitures.

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of betsy at bwattorney.com
Sent: Monday, June 7, 2021 9:49 AM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] 1031 exchange question

I am probably wording this incorrectly or awkwardly at best, but here is my inquiry:  Can the proceeds from the sale of a business license (I-502 marijuana license to be exact in this case) be used to buy income property in a 1031 exchange?

Thanks for any insight provided!



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