1031 exchange use for existing new property
Dear Expert, I need your advise on my rental exchange. Below is my scenario.
I have 2 x below rental and would like to sell Rental#1 and want to move the gain into Rental#2 which is the newer home.
Please advise , can I do that ?
Rental#1: 2016 built as Primary residence and converted into investment in 2020.
Rental#2: 2023 built home and bought in 2023 as investment property.