TaxGuyBill
Level 15
12-07-2019
07:06 AM
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Good point. My prior foggy-brained statement was wrong. If he trades the old $300,000 property in exchange for the new $190,000 property, he would be receiving $110,000 of 'boot'. Right? So of the $137,000 gain, $110,000 would be taxable and the other $27,000 would be deferred into the new property. Right?