Boot Calculator
Calculate boot (cash received, mortgage relief, non-like-kind property) and estimate tax implications for your 1031 exchange. Boot is any property or cash received that is not like-kind, and it is subject to capital gains tax.
Boot Calculator
Calculate boot (cash received, mortgage relief, non-like-kind property) and estimate tax implications for your 1031 exchange.
The sale price of your relinquished property
The purchase price of your replacement property
Any cash you receive from the exchange
Mortgage balance on relinquished property
Mortgage balance on replacement property
Understanding Boot
- Cash Boot: Any cash you receive from the exchange is taxable.
- Mortgage Boot: When your new mortgage is less than your old mortgage, the difference is treated as boot.
- Tax Implications: Boot is subject to capital gains tax. The actual rate depends on your tax bracket and holding period.
Educational content only. Not tax, legal, or investment advice. Results are estimates only. Consult a qualified intermediary and tax advisor before making decisions. Illinois does not impose a state real estate transfer tax. Recording fees and title insurance premiums still apply.
Related Resources
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Contact our team to discuss your 1031 exchange needs in Chicago, IL. We'll help you navigate the 45-day identification deadline and 180-day closing requirement.