1031 boot, how is tax figured?

[Allen B.]

Can someone give me a *rough* idea how I can expect any boot from my 1031 exchange to be taxed?

I know the general taxes involved (long-term capital gains, state income tax in GA (I think), depreciation recapture). But obviously not all of what’s in the exchange is gains (didn’t manage to buy at zero and put in nothing). 

So if I do end up having some boot, do I somehow apportion it between the part of the sale that was “gain” and the part that’s just “getting back what I put in”?

To add that little extra factor, a total of 11 properties were sold to fund the exchange.

Know I can ask my CPA but just looking to get a rough understanding now.

Edit: sorry, meant to post in 1031 forum but cannot find a way to move or delete. 

Thanks,

Allen

[Wayne Brooks]

The boot will not be ordinary income. There is no allocation of “getting your purchase price back...all boot is taxed up until all of your gain/depreciation recapture totals. I don’t know how the boot is allocated between capital gain verses depreciation recapture.

@Dave Foster??