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For 1), you must have owned the home for 2+ year to qualify. If you're moving under 2 years for a "qualified reason" (death, birth of multiples, 50+ miles close

For 1), you must have owned the home for 2+ year to qualify. If you're moving under 2 years for a "qualified reason" (death, birth of multiples, 50+ miles closer to work) you can take a pro-rated deduction. For 2), you cannot do a like-kind exchange for residential property that you live in as your primary home.

anxman 11y ago
Yes, thanks for the clarifying points. For (2), if you convert the residential property into a business by renting it out, at what point can you do a 1031?