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Avoiding capital gains tax
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
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Wayne Brooks#1 Foreclosures Contributor
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Funds from a refi are not taxable. A 1031 is done when you Sell the property, not refi it.