Question on 1031 replacement property sale
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