Can or should I 1031
I closed on my property about 2 years ago and built a house on it for a total of $110k and I'm currently closing on selling the property for $209k. With it being my primary and only property, can I do a 1031 to avoid capital gain tax or would I even be taxed? I'm in Missouri, if that makes a difference.
If I need to 1031 my money, what is the time line to be closing? Thank you in advance!