Capital Gains Tax or 1031 Exchange

[Robert Thompson]

I need to know if it's better to take the capital gains tax hit or do a 1031 exchanges? The house is in CO. I live in NC and want to buy more rental property closer to home.

Here are the factors.

Mortgage is 115K House is worth 310K (I have a buyer lined up)

I bought the house in 89 for 60K It's been refinanced 3 times over the years. Last time in 2011 for 150K

The house has been rental property since 2011

I've done a number of home improvements over the years, but I didn't keep all my receipts.

24k in depreciation since 2011

What do you think?