1031 Permissible Closing Costs and Boot

[Lori F.]

We have sold our relinquished property in Southern California and are working on the purchase of 2 replacement properties in another state.  This is our first 1031 exchange and I am confused about permissible closing costs and boot. 

1. Is it correct than any non-permissible costs paid at closing from the sales proceeds are considered boot? For example, we paid $2500 for termite work out of proceeds at closing, so is that boot?

2. If we received $30k cash boot at sale of relinquished property, but permissible closing costs were $25k, do the closing costs offset the cash boot, creating a taxable event of just the difference ($5k)?

3. Can permissible closing costs paid out of pocket offset cash boot? For example, we paid our accountant $700 for 1031 advice and wrote him a personal check.

4. Would home staging be considered a permissible closing cost?

5. How about municipal code compliance required at time of sale, like low flow toilets and emergency gas shut off valves?

6. Can permissible closing costs incurred from the sale of the CA property plus the 2 out of state replacement properties be added together to offset the cash boot taken?

7. Is net cash boot federally taxed at 25%, up to the $ amount of depreciation taken?

Thanks!