Tax implication of selling one property from commercial loan

[Ali Hashemi]

I have multiple duplexes under a single commercial portfolio loan. I'm interested in selling one of the properties and leaving the loan intact. If I sell one of the properties is it considered 'taxable gains'?

My goal is to use all of the funds for renovations of the remaining properties in the portfolio, so I'd like to know if I'm going to owe taxes on the proceeds of the sale. I'm consulting a tax attorney as well, however I wanted to get the BP community's input and see if someone went through this before.