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Jim Cummings
  • Residential Real Estate Broker
  • College Station, TX
969
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1,193
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Capital gains on a 1031 Property

Jim Cummings
  • Residential Real Estate Broker
  • College Station, TX
Posted

For 1031 Experts:

Sold one (1) property via 1031 Exchange in 2016. Rolled the  Monies over and purchased two (2) Properties on 1031 Exchange, in 2016. 

IF I just SELL ONE (1) of the properties in 2023 or subsequent years, am I liable for Cap Gains taxes on all the 1031 Money  carried forward or is it prorated based on Monies Invested into the property at time of purchase or what other guidelines should I be cognizant of?  

Appreciate your help.

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