I have owned a rental house for about 28 years, mostly rented. I plan to sell the house in 2018. It's been depreciated to about $10K over the years. I expect to sell the house for about $100K. I plan to buy another rental within the 180 days for the 1031 exchange. I expected the new rental to be about $200K.
My question is, will the basis of the new house start at $200K or $110K, assuming the numbers above.
Second question, what is my tax liability when I sell the new house?