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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

Answer

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

We have more answers to frequently asked real estate tax questions! We also offer up-to-date information about new tax real estate tax developments in Michael Gray, CPA's Real Estate Tax Letter.

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