Looking into selling 1 or 2 restaurants of mine. Wondering if this tax code applies to restaurants?? I would take the proceeds and invest them into similiar restaurants elsewhere. Thanks, Dave
Dave, I'm not sure if the 1031 applies to businesses. The best information would be from a QI who does them. Search the internet for 1031 exchanges. There's tons of info there & also many QI's to call.
My understanding is that the 1031 exchange applies to Real Property only. The question is, do you own the real property? (I could be mistaken.)
