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I own a multi-family property under an S-Corp. I am the sole…

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I own a multi-family property...
I own a multi-family property under an S-Corp. I am the sole shareholder of the company. I would like to sell the property and purchase a replacement property using a 1031 exchange. However, can my S-corp sell the property, and then, i will buy the replacement property using my personal name.
Submitted: 2 years ago.Category: Tax
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2/22/2016
Tax Professional: Jason M. Tyra, CPA, Certified Public Accountant (CPA) replied 2 years ago
Jason M. Tyra, CPA
Jason M. Tyra, CPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 178
Experience: Principal at Jason M. Tyra, CPA, PLLC
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Hi there: The S Corp must sell and repurchase another property in order to qualify under Section 1031.

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