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Sale of 1031 exchange real estate

After purchasing the property, we hold it for 2yrs and sale it, does IRS just tax the capital on it or do they tax the actual $300,000.00 plus that we used to purchase it.

1031 Tax Deferred Exchange
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Tax Professional Answers

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John Stancil
You would pay tax on the gain over your purchase price which is your cost basis. However, what you have described is not s Sec 1031. If the property was a qualified Sec 1031 exchange, your basis would be the transferred basis in the property you exchanged.
Leave a Comment 266 weeks ago

User Photo
John Stancil
You would pay tax on the gain over your purchase price which is your cost basis. However, what you have described is not s Sec 1031. If the property was a qualified Sec 1031 exchange, your basis would be the transferred basis in the property you exchanged.
Leave a Comment 266 weeks ago


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