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Can a 1031 exchange property become a personal texas homestead?

Texas and Federal Tax Question

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1031 exchange property cannot become a personal Texas homestead. Either a personal residence nor a fix and flip property qualify for the exchange. A real estate property for business qualifies for the 1031 exchange. Go to http://homebuying.about.com/od/investmentproperties/a/102008_1031Exch.htm and check out. You can also go to http://www.1031exchangemadesimple.com/ and contact them for more details.

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