would a 1031 exchange save me much in taxes?
I'm asking this question because I'm getting different answers from different CPAs as to how much I would save. I'd like to sell one of my rentals and put the proceeds into stocks instead, but if the tax hit is too high, I'd do a 1031 exchange.
The gain on the sale of the rental property would be about $58k after expenses. For this year, I currently have about $131k in short-term capital losses outside of real estate. I have no other short-term gains to offset those losses.
Since I bought the property in 2019, I've written off about $13k in depreciation. How much would I save doing the 1031? TIA!