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Chris W. Rea
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1031 Exchange and Taxes?

We were given a property by my father in 2001 who was doing a 1031 Exchange on an investment property. Once we were given the deed and title of the property a year later, we started using it as a depreciation on our taxes. Now we are thinking of selling the property. We are listing it only 5 or 10,000 more than what we bought it at. What tax issues will we come across once we sell the property?