Help Me Acquire / Start a Business and 1031 Question

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God willing, I should be closing on the sale of my business in the next 60 days.

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Congrats!

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I've got to 1031 into something.

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I wish we were talking two years ago. Tax reform gutted the ability to do this on a "business sale".

Specifically, the only assets that can now be included in a 1031 exchange is real property.

So, if your business owned real property and it's included in the sale, you could take the money allocated to the building part of the sale, and use that in a 1031 exchange, to buy a different building (or several buildings, or other real property).

How is the business structured? Wondering if a Sec 1202 small business stock sale exclusion could apply here. In addition, some states, including Louisiana, exclude part of the gain of a small business if it meets certain requirements.

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75% real estate

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So you will want to get with a 1031 exchange company, and work with them on this, making sure that the sale contract is drafted in a way to allow you to accomplish this exchange on the 75% that is real estate.