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Updated 8 months ago, 05/01/2024

User Stats

326
Posts
167
Votes
Ryan Fox
Pro Member
  • Investor
  • NV and CA
167
Votes |
326
Posts

would a 1031 exchange save me much in taxes?

Ryan Fox
Pro Member
  • Investor
  • NV and CA
Posted

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!

  • Ryan Fox
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