Question: (Wesley) Hi Alan, I hope all is well with you. We are selling (in escrow now) our 1 BR rental condo in San Carlos (our old stomping grounds). We are thinking about doing a 1031 exchange and purchasing a home that we will eventually live in, using the +/- $370,000 as a down payment. The plan would be to purchase the home within the required 180 day period and rent the property out for 5 to 10 years. After 5 to 10 years we would then make this exchanged #rentalproperty purchased with the #1031exchange, our #primaryresidence. If we later sold that property would we avoid paying taxes on the +/- $370,000?

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