Michael T. asked
I'm doing a partial 1031 exchange on a rental property. I need to determine how much cash I can take out of the exchange without incurring tax liability. I have both offsetting capital losses and catch up depreciation which may impact the decision. What are the tax implications of taking cash out during the exchange, and how do capital losses and catch up depreciation affect this?
November 24th, 2024
Sandra M. answered
During a 1031 exchange, any cash received is considered 'boot' and is taxable. However, you can pote...
November 24th, 2024
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