How to move money for 1031

[Pandu Chimata]

Team, 

Here is a scenario. I am currently in escrow since I am selling an investment property along with a partner. At the end of escrow, I will get close to 300K but out of which $15 to 20K is the profit.  so I am subjected to pay taxes for 20K profit. 

Where do I keep this 20K ? in my personal account to reinvest if I can invest in the next 180 days to defer taxes? Please advise.

FYI- I am already looking for more properties and I am sure I will get one before the due time,

[Frank Chin]

I don't know if you checked with a CPA, but does the profit calculation include depreciation recapture.

Also, ALL the money you take out has to be held by a 1031 intermediary, you can't touch it. And if the profit is as small as you said, if correct, I would skip the 1031, and pay the taxes. You are under time constraints to do a 1031, and it can lead to you doing  bad deals.