If I sell a rental property could I payoff my mortgage on my other rental without paying capital gains tax.

posted

No, because you are not "exchanging" property #1 for property #2. You already own property #2. Therefore your transaction is not a "like-kind exchange" under Section 1031.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

A rental property on Schedule E for 2024 is not appearing on my 2025 work. It was sold in January 2025 and I'm sure I need to report the sale for capital gains. Help?

in Investors & landlords

Expert does your taxes

Do it yourself

Resources

Support

If I sell a rental property could I payoff my mortgage on my other rental without paying capital gains tax.

If I sell a rental property could I payoff my mortgage on my other rental without paying capital gains tax.

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

If I sell a rental property could I payoff my mortgage on my other rental without paying capital gains tax.

Do you have an Intuit account?

If I sell a rental property could I payoff my mortgage on my other rental without paying capital gains tax.

Unlock tailored help options in your account.

Get more help

Related Content