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ELIGIBILITY

Mixed-use property

Also called: part business part personal · mixed personal and rental use

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PLAIN-ENGLISH DEFINITION

Property with both qualifying investment/business use and personal or nonqualifying use.

What it means in practice.

Mixed-use real estate may require allocation and coordination among Section 1031, personal-use and other tax rules.

Why it matters.

Examples include a building with an owner-occupied portion and rental units or a property converted between personal and investment use.

Additional notes.

Mixed-use real estate may require allocation and coordination among Section 1031, personal-use and other tax rules.

PRIMARY / REFERENCE SOURCES

Read the source material.

irs.gov ↗irs.gov/publications/p544irs.gov ↗irs.gov/pub/irs-drop/rp-08-16.pdf
CONNECTED LANGUAGE

Related definitions.

EligibilityPersonal residenceA home held primarily for personal use rather than investment or business use.Related Tax StrategiesSection 121The federal provision that can exclude qualifying gain on the sale of a principal residence, subject to its requirements and limits.EligibilityHeld for investmentA qualifying purpose under Section 1031: holding real property for investment rather than primarily for personal use or resale to customers.
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