- Sep 8, 2014
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Here is what I do know about the sale of a primary home that has been such in I think 2 of the past 5 years. If single, the first $250K PROFIT is tax free and if filing jointly it is $500K PROFIT. So if not that much, then the 1031 would not totally matter. But if doing a 1031 is better for you I get it.
I definitely need to look into that. I've been here 10 years, so that's not going to be a problem...but profit will be over $250k (not much over, but definitely over). We file separately also.