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Updated almost 9 years ago,

Tommy Sowell's profile image
Tommy Sowell's profile image
Tommy Sowell
  • Investor
  • from Waianae, Hawaii
  • Member since Dec 22, 2014
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User Stats

107
Posts
42
Votes
Tommy Sowell's profile image
Tommy Sowell's profile image
Tommy Sowell
  • Investor
  • from Waianae, Hawaii
  • Member since Dec 22, 2014
Connect
Tommy Sowell
  • Investor
  • Waianae, HI
42
Votes |
107
Posts
1031 Exchanges

Cash out and improvement should equal out?

Tommy Sowell
  • Investor
  • Waianae, HI
Posted

I'm doing a 1031 exchange from San Diego to Hawaii and I need a little cash to fix my new properties. If I take $5k  cash out of the exchange and spend $5k on improvement on new property would the $5k income from the exchange and the $5k tax deductible improvement equal out on my taxes next year?

Thank You

Tommy

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