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Tax, SDIRAs & Cost Segregation

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Brody Mcgowan
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Can or should I 1031

Brody Mcgowan
Posted Jun 15 2021, 15:26

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!

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