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Updated over 5 years ago on . Most recent reply

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Kevin Lewis
  • CEO
  • Trenton, NJ
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Avoiding capital gains tax

Kevin Lewis
  • CEO
  • Trenton, NJ
Posted

I took out some equity on one of my investment properties in 2015 and I am buying another investment property in 2016. Can I do a 1031 exchange for this transaction and, if so, can I defer the capital gains tax?

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Funds from a refi are not taxable.  A 1031 is done when you Sell the property, not refi it.

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