How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Jason M. Tyra, CPA Your Own Question
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
Type Your Tax Question Here...
Jason M. Tyra, CPA is online now
A new question is answered every 9 seconds

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

Customer Question

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: 1 year ago.
Category: Tax
Expert:  Jason M. Tyra, CPA replied 1 year ago.

Hi there: The S Corp must sell and repurchase another property in order to qualify under Section 1031.