1031 + §453 · Advanced

Can You Combine a 1031 Exchange and an Installment Sale?

Yes — and for the right deal it's powerful. A 1031 defers the like-kind portion; a §453 installment sale can defer the 'boot' or the part you don't roll into a replacement property. Here's how they work together.

Most people treat a 1031 exchange and an installment sale as either/or. They're not — in the right transaction, you can use both, deferring more of the gain than either could alone. Here's how.

The problem each one leaves behind

A 1031 exchange defers gain only to the extent you reinvest in like-kind property. Anything you don't reinvest — the "boot" (cash, debt relief, or value you keep) — is taxable. A pure 1031 also forces you to buy a replacement property on a strict clock.

How combining them works

When this combo shines:
  • You want to reinvest some proceeds but take some off the table.
  • Your replacement property costs less than your sale (you'd otherwise owe boot tax).
  • You're carrying seller financing on part of the deal.

The catch — get the sequencing right

Combining these requires careful structuring with your qualified intermediary, because the timing and documentation determine whether the installment treatment holds. It has to be set up correctly before the proceeds are released. This is exactly the kind of deal where a deferral specialist working alongside your QI earns their keep.

The takeaway

You don't have to choose between a 1031 and an installment sale. Used together, they can defer the like-kind portion and the boot — letting you reinvest part, cash out part, and still spread the tax. Plan it before you close.

Frequently asked questions

Can you do a 1031 exchange and an installment sale at the same time?

Yes. A 1031 defers gain on the portion you reinvest in like-kind property, and a §453 installment sale can defer the tax on the 'boot' — the cash or value you don't reinvest — by spreading it over future years.

What is 'boot' in a 1031 exchange?

Boot is the part of your proceeds you don't reinvest into the replacement property — cash, debt relief, or kept value. It's normally taxable, but structuring it as installment payments can defer that tax.

How does seller financing relate to an installment sale?

If you carry a note for part of the sale price, the installment method applies — you're taxed on that gain as you receive the payments, not all at once. This can be combined with a 1031 on the reinvested portion.

Why would I combine the two instead of just doing a 1031?

Because a pure 1031 forces you to reinvest everything to fully defer. Combining lets you reinvest part, take part off the table, and still defer the tax on the cashed-out portion — useful if your replacement property costs less than your sale.

What do I need to do to set this up correctly?

Coordinate with your qualified intermediary and a deferral specialist before the proceeds are released. The timing and documentation determine whether the installment treatment holds, so it must be structured before closing.

Thinking about a big sale?

Before you sign anything, run your numbers with someone who structures the deal to be tax-smart and audit-ready from day one.

Call 213-414-2808 Run the Numbers →