I am selling my business, 0,000 property, 5,000,000.I paid 0,,000 for it 10 years ago.I have a substantial gain.
If were to try to do a 1031,would I have to buy a business, in the 0,00 range or higher, or the total amount of sale,5,000.Or just the 0,000property? I have an appointment at the end of week with a CPA but i cant sleep worrying.After my debts are paid i will only have about 0,00 before state and federal tax's are paid if i don't re-invest with a 1031.I do not want to finance another business.if i found a business for sale for 0,000
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