Real Estate Investment World
November 27th, 1997
Can I flip profits from a home sale to buy another home outside of the USA?
I’m writing a novel with a real estate mogul as the lead character. Can he do a 1034 roll over or 1031 tax free exchange when buying a home outside the United States? In the book, he sells a property, then wants to flip the profits into a resort home in Germany’s Black Forrest region. He’s not un-American–he just has lots of homes and investments all over the world.
Not unless it is your principal residence otherwise you are taxed heavily on the sale(because it is a business you are engaged in)
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