How to move money for 1031
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,