It doesn't have to be in the same state. The purpose of 1031 Exchange is that, exchanging property A with property B, the tax on capital gain in property A is delayed until property B is sold.
1031 Exchange requires a lot of careful planning. Your son is well advised to consult a professional.
http://en.wikipedia.org/wiki/Internal_Revenue_Code_section_1031
1031 Exchange
本帖於 2014-09-02 10:11:48 時間, 由普通用戶 lexm5 編輯