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All Forum Posts by: Huynh Do

Huynh Do has started 1 posts and replied 1 times.

Post: 1031 Exchange with lower value property

Huynh DoPosted
  • Posts 1
  • Votes 0

Hello there,

I'm in the process of selling my property and the selling value is $600,000 which will result a $80,000 ( I bought it for $520,000 ) capital gain. I have 2 questions regarding about the 1031 Exchange:

1. Can I do a 1031 Exchange and out of state property. I'm from CA and I'm looking for a property in TX?

2. Since the property's value in TX (   $400,000 ) is less then the my current one, am I still qualifying for the 1031 Exchange if I will reinvest all capital gain into the new property?

Thank you for answers in advance.