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1031 Exchanges

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Lindsey Milam
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Question on 1031 replacement property sale

Lindsey Milam
Posted Nov 17 2022, 11:07

Hi ya'll!

Is there a calculator to determine the final capital gains taxes I would pay on the sale of a replacement 1031 exchange property? I'm struggling to decide if we should sell our STR. Profits average $30K/year.

Original purchase price: $270,000

Bought out business partner with new value at $300,000

Sale price: $414,000

(1031 exchange) New condo purchase price: $675,000

Sale of boat slip and garage attached to condo: $100,000

Sale price of condo: $1M

Thanks!

Lindsey

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