In order of a property or purchase to qualify for a 1031 Exchange, there are some requirements that it must meet. There cannot be a profit or a "boot" with the property. This is because taxes would need to be collected on the profit of selling the property. The point with 1031 Exchange is that there is no profit, because the property is "replaced" by a property of equal of greater value.
See also: 1031, Exchange, Desktop, Screen, Saver
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