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Partial cash out in a 1031 Exchange
i am considering a 1031 exchange on a rental home. I have about 80K of depreciation and would have about 40k of LTCG tax if not for the 1031 Ex.
I would like to take about 30-50% boot or cash out.
I assume the LTCG is the proportion of the 40K.
How would the depreciation recapture calculation work?
Cheers
Buddy