Is there such a thing as a partial 1031 exchange, reinvesting only part of the sale gain?

Yes, a partial 1031 exchange is real: you shelter the slice you reinvest and pay capital gains tax on the cash you keep. You can roll a portion of your sale proceeds into the replacement property and pocket the rest. The proceeds you don't reinvest are called boot, and boot is taxable. The portion that goes into like-kind property stays tax-deferred. So a partial exchange is a partial deferral. That can be exactly the right move if you want some money off the table and you're comfortable paying tax on that piece; the tradeoff is giving up part of the deferral benefit. Two practical notes: - The mechanics are unforgiving: what counts toward the reinvestment target, how debt is treated, and the strict identification and closing timelines are all easy to get wrong. Use a qualified intermediary to structure the exchange. - Rules and thresholds change, so confirm current requirements with a tax professional before you sell. We can walk you through financing the replacement property. The boot math belongs with your CPA.