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1031B exchanges in Mexico?

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cdmpow

8/30/2015 14:46 EST

Does anyone know if you can do real estate exchange (like the 1031B in the US) in Mexico? Also, can anyone suggest a place in Mexico that offers both water activities (fishing, diving, kayaking) and cultural activities (museums, historical places, theater,college courses, libraries)? My husband retired to Cabo many years ago, but now that I'm retired, we're looking for an area that meets both our interests.

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LovingPV

8/30/2015 18:27 EST

No and Mazatlan. I say this without bias cuz I live in Puerto Vallarta.

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JohnPS

8/30/2015 20:13 EST

The following is from the IRS website (http://www.irs.gov/uac/Like-Kind-Exchanges-Under-IRC-Code-Section-1031):

One exception for real estate is that property within the United States is not like-kind to property outside of the United States.

Thus, if you're exchanging U.S. real estate for Mexican property, a 1031 will not work. But you may be able to exchange foreign property for foreign property.

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