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1031 Exchange In S Corporation for Rental property to be leased to Shareholder

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    1031 Exchange In S Corporation for Rental property to be leased to Shareholder

    Client is selling her farm and relocating to the city. Her farm is owned by her wholly-owned S corporation. She wants to invest part of the proceeds into a duplex or townhome. Would there be anything wrong with the S corporation purchasing this property and using it for a partial 1031 exchange and then leasing it to the shareholder at fair market value?
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