1031 exchange is there boot received that is taxable if i exchange for a property with greater value? if my rental is worth $500,000 and I exchange it for $600,000. do i report a boot of $100,000 and if i do what rate is it taxed as is it short term capital gains? i thought we only get boot if we exhcnaged for a lower value home like 500k home for 400k home and u get boot of $100k?