All Forum Posts by: Jeanne Hagan

Thank you very much Dave.  I appreciate your good suggestions

I believe it's equal or greater value.  But if someone does not spend the full amount from the sale, first is that even allowed?...and if so, do you just have to pay tax on the difference?

Soon I will have listed my duplex for sale in Boston Mass.  House is valued at $650K and when all is said and done will walk away with $600K in cash after closing.  I want to buy another multi-family closer to where I live (25 miles north of Boston) and use the 1031 exchange to avoid the capital gains tax.  Q1.  I have located at duplex for sale I want to buy for $400K, and wonder if I should look for another smaller condo and spend the entire $600K ...OR....in order to keep some spending cash, should I just pay the capital gains tax on the $200K.  thanks, Jeanne