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1031 Exchanges

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Dennis Cronk
  • Investor
  • Iowa City, IA
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Question about 1031 exchange

Dennis Cronk
  • Investor
  • Iowa City, IA
Posted Aug 9 2017, 09:27

I have a former residence (condo) that I held as a rental when i moved out about 15 years ago.  About 10 years ago i refinanced the property to take cash out.  Now I would like to sell it and purchase something bigger.  Because of the refinance, my capital gain is significantly more than my equity.  If i want to do a tax deferred exchange, even if I reinvest all of my current equity, will i have to pay taxes on the difference between the gain and the equity?  Thanks.

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