Taxable Gain on a partial 1031 Exchange

[Craig Lessler]

Hello everyone.  I am doing a 1031 Exchange and want to verify the portion of the gain which is taxable.

1. Relinquished property is being sold for $159,000.

2. Adjusted Basis is about $60,000.

3. Fix up expenses to sell the property are $19,000.

4. Cost of sale are $9,000.

5. Replacement Property is being bought for $123,000.

6. Closing costs for the replacement property are $4,000.

Please provide me with your ballpark estimate of the taxable portion of the capital gain.

Thanks.