If I sell a rental property could I payoff my mortgage on my other rental without paying capital gains tax.
01732
1 Replies
TomD8
Level 15
Jun 6, 2019 6:19:54 AM
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.