Doing First 1031 Exchange

[Justin Nagy]

We have a property that we have purchased with cash and are now looking to do a 1031 Exchange. We bought the property for 140,000 and put 20,000 into it. If we sell the property for 250,000 do we have to reinvest the entire 110,000 into the new property or can we take the 20,000 we invested back and only invest the 90,000 in gains in the next property?