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I do not believe that it is possible to correctly calculate the taxable amount on a 1031 exchange without knowing the mortgage amounts on the two properties. Any decrease in the mortgage amount is treated as cash boot and would be taxable. Since we don't know these figures, we can't figure the taxable gain.

Scuzzi! Since the net loan thing had been covered in the previous post, I (wrongfully) put it out of my mind. My primary intent was to point out that the benefit of doing a trade might be significantly offset by the transaction costs. So a rough guess at the benefit is good enough to show that the costs will take a very noticeable bite.

It should also be noted (though it is not a tax issue) that it is rare to have a fix on both the sale price of the 'old' property and the'new' property before you must commit to the deal. So there is a significant risk that either the old or the new price will be lower/higher than your target. And small differences between large numbers can be devastating.
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