Question
Can I avoid capital gains on the sale of a rental property by putting the gains into an existing rental property? (e.g. pay off mortgage, repairs, etc.)?
I have multiple rental properties, all with mortgages. I know I've seen articles saying if I sell a rental I can avoid capital gains by purchasing a new rental property.
But what about existing ones? Can I avoid capital gains by taking the 'gain' amount and say putting it towards the mortgage of one or more existing rental properties? I've not found any mention of that anywhere.
But what about existing ones? Can I avoid capital gains by taking the 'gain' amount and say putting it towards the mortgage of one or more existing rental properties? I've not found any mention of that anywhere.
