If my sale is a 1031 exchange, does the FIRPTA 15% withholding still apply?
I keep getting conflicting answers. My closing agent says because it's a like-kind exchange, no FIRPTA withholding is needed. My CPA partner says it depends. Who is right? I'm a foreign person selling a US investment property and rolling it into a replacement through an intermediary. Does the 15% withholding disappear automatically just because it's an exchange?
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