1031 Exchange and Capital Gains

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Name:Steven Hickox
Location:Denver, Colorado, United States

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Tuesday, October 11, 2005

1031 Exchange and pay off of existing

Steven, May I apply 1031 funds from a condo rental sale to an existing mortgage on the building I use for my professional business?
 
Dear Ralph:  The IRS does not consider that sale of one property and the pay down of debt on a property that you already own to be a valid 1031x. Sincerely,
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>> Steve Hickox
Attorney / President

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posted by Steven Hickox | 10:18 AM