Can a limited partner in a building use an exchange?

October 16, 2000

Subject:  question???
Date:  Mon, 18 Sep 2000
From:  Roger Marshutz

I've done a little more searching via the internet and maybe you can save postage. I have one important question though. Can a limited partner in a building use an exhchange. The building I'm in is a office building in Ketchum, Idaho. If I can, I assume that I would have to go into a similar building... like kind.

Roger Marshutz


Date:  11 Oct 2000

Hello Roger,

A limited partner in a building generally can not use an exchange.

The partnership itself can make an exchange.

The partnership could be liquidated and eventually the partners could exchange their interests in the property formerly in the partnership.

Ready to hire a tax advisor yet?

Good luck!
Mike Gray

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