qbteachmt
Level 15
04-10-2022
10:13 AM
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"I din't think you had to be equal or greater than the replacement property. What am I missing?"
Yes it does. Otherwise, your taxpayer client has a partial exchange and some money to report for taxes.
There are many web resources for 1031 exchange, and you are looking to read about partial exchange and "boot." Google:
what is 1031 exchange boot
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers