Can I do a 1031 or is there an other way to avoid capital gain

[Emmanuel Kizayilawoko]

Hello friends,

I am looking into selling on of my rental properties, my renter has lived there for about 2 years. By selling I’m looking to profit around $140K before taxes and notary fees etc...

My question is tax related how can I avoid paying tax on the gain so I can invest that money elsewhere. I’d like to look into getting a couple condos with the gains but would like to keep some for other investments. Any ideas is greatly appreciated.

Thank you lots.

[Wayne Brooks]

@Robert Goldman Not at all.....refinancing does Not change your basis at all and does not affect your gain/taxes.  You aren’t taxed on your “equity” but the difference between your cost to buy/improve and your selling price (less actual selling costs) regardless of financing, all cash, whatever.