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I’m Four Months Into a 1031 Exchange—Now It’s All About Finding the Best Deal in the Haystack
We are less than a month away from listing our Brooklyn, New York condo, which we bought for $375,000 back in 2004, the same week we got married. 20 years, two […]
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1031 Exchanges
HomeForums1031 ExchangesPay off debt tax-free in 1031 exchange
Jeff Wang's profile image
Jeff Wang's profile image
Jeff Wang
  • from San Francisco, California
  • Member since Jun 12, 2013
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Jeff Wang's profile image
Jeff Wang's profile image
Jeff Wang
  • from San Francisco, California
  • Member since Jun 12, 2013
Connect
Jeff Wang
  • San Francisco, CA
2
Votes |
18
Posts
1031 Exchanges

Pay off debt tax-free in 1031 exchange

Jeff Wang
  • San Francisco, CA
Posted May 27 2015, 21:45

Hello,

Many years ago, my family helped me purchase a house and gave me a portion of the downpayment. Fast forward to today and I've made a nice profit on the house.  I'm currently in the process of doing a 1031 exchange and would like to pay my family back the borrowed money.

Can I do this at the close of escrow without incurring taxes? If so, how would I do it?

thanks

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