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<p class="MsoNormal"><span style="color:#1F3864">Colleagues:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F3864"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F3864">A CPA contacted me with concern regarding whether a client had blown an attempt to do a 1031 exchange. It’s beyond my knowledge but I offered to put the question out to those of you who know much more on 1031s.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F3864"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F3864">Client held the relinquished investment property in her revocable living trust, using her SS # to file her returns.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F3864"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F3864">She acquired the replacement property through her single-member LLC – filing as a disregarded entity using her SS#.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F3864"> <o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F3864">The question is will the 1031 exchange work selling from the RLT with the replacement property purchased by the LLC?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F3864"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F3864">Thanks very much. Claudia<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F3864"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><i><span style="font-size:12.0pt;font-family:ParkAvenue;color:#1F3864">Claudia A. Gowan<o:p></o:p></span></i></b></p>
<p class="MsoNormal"><b><i><span style="color:#1F3864"><o:p> </o:p></span></i></b></p>
<p class="MsoNormal" style="line-height:9.0pt;mso-line-height-rule:exactly"><b><span style="color:#1F497D">Claudia A. Gowan, PLLC<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="color:#1F497D">2212 Queen Anne Avenue No., # 338 (Mailing only)<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="color:#1F497D">Seattle, WA 98109<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="color:#1F497D">(206) 443-2733 (T)<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="color:#1F4E79"><a href="mailto:claudia@cagowanlaw.com"><span style="color:#1F4E79">claudia@cagowanlaw.com</span></a>
<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="color:#1F3864"><o:p> </o:p></span></p>
<p class="MsoNormal"><a href="https://www.bestlawyers.com/lawyers/claudia-a-gowan/141568"><span style="color:#0563C1;text-decoration:none"><img border="0" width="164" height="55" style="width:1.7083in;height:.5729in" id="Picture_x0020_1" src="cid:image003.jpg@01D6E4E1.7EA42730"></span></a><span style="color:#1F3864"><o:p></o:p></span></p>
<p class="MsoNormal"><b><span style="color:#1F4E79"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><b><u><span style="color:#1F4E79"><a href="http://www.seattletrustsandestates.com/"><span style="color:#0563C1">www.seattletrustsandestates.com</span></a></span></u></b><span style="color:#1F3864"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F3864"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><u><span style="color:#1F497D">Recognizing the risk of coronavirus for our clients and colleagues, we are working remotely. Our direct email and telephone contact information, which has not changed, along with a permanent mailing address
is noted above.</span></u></b><span style="color:#1F3864"><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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