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Updated over 6 years ago,

User Stats

56
Posts
2
Votes
David F.
  • San Diego, CA
2
Votes |
56
Posts

1031 Question/Capital Gains

David F.
  • San Diego, CA
Posted

I own a property I bought for $250K that's now worth $500K.  I have an offer for a combination of $200K cash and $300K in 1031 exchange property.  Question- How will this affect my capital gains? Since the $200K is no larger than the cost basis, and the rest is a 1031 exchange, am I correct in assuming I would not owe any capital gains tax?  Thanks in advance.

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