title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Friday, February 25, 2005
 
Use Of 1031 Proceeds

Q:

Subject: Exchange Question
 
Can I payoff raw land I currently own with a 1031 exchange?
 

A:

 Absolutely not.

Proceeds from 1031 exchanges may only be used to acquire new like kind property. 

Kerry Kerstetter

 

Follow-up:

thank you, I'll have to go to plan B ! We might can do some business
sometime. Thanks again.
 

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