1031 exchange how much do I have to reinvest to avoid being taxed
Just sold some commercial properties and we are doing 1031 exchange. My intermediary told me that we need to purchase properties valuing the total of the ones sold. I was doing some research and I am seeing conflicting info. Some of the info says you only have to reinvest the net profit, meaning I don't have to include closing costs from my sale. That will make a big difference in the cash I will have to shell out! Anyone have any insight?