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Updated over 8 years ago,
1031 question
My family and I are about to sell a house we inherited. Myself and another family member are splitting sale.
My question is do I have to use all of money made from the sale on the exchange? Or can I just use whatever I receive from sale.
For example
Sale price 100000
I get 50000
Family gets 50000
New house 150000
Down payment 50000