1031- capital gains

[Brandy Anderson]

I can't say enough times how much I LOVE Bigger Pockets and the fact that I have a place I can come to and ask these questions without having to weed through articles on google from potentially unreliable sources. I need help, my friends. I am selling my house in Nashville, TN very soon (hopefully! the market is HOT there so fingers crossed) and will be purchasing a property here in Portland, OR in a 1031 exchange to avoid capital gains taxes. I am wondering, if I kept some of the proceeds out to help pay for my dad's medical bills, would I pay taxes on the entire net amount from the sale, or simply the amount I keep? And at what rate am I taxed? Thank you to anyone and everyone who is willing to share your knowledge with me!