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1031 Exchanges

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Tommy Sowell
  • Investor
  • Waianae, HI
41
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106
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Cash out and improvement should equal out?

Tommy Sowell
  • Investor
  • Waianae, HI
Posted Jan 28 2016, 19:46

I'm doing a 1031 exchange from San Diego to Hawaii and I need a little cash to fix my new properties. If I take $5k  cash out of the exchange and spend $5k on improvement on new property would the $5k income from the exchange and the $5k tax deductible improvement equal out on my taxes next year?

Thank You

Tommy

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