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1031 Exchanges

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Eric C.
  • Laguna Niguel, CA
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1031 Boot and Passive Carry Over Loss

Eric C.
  • Laguna Niguel, CA
Posted Feb 15 2017, 16:59

Let's say I sell an investment property for $600k (net of commissions and misc fees) and purchase 2 replacement properties for a total of $570k.  This leaves me with a boot of $30k. My passive carry over loss for the $600k property is $30k.  Does this basically zero out my tax liability for the boot?