Can you use some of the proceeds from a 1031 exchange on a rental residentials bldg. to pay off a parent plus student loan with no tax being charged to taxpayer.

corinnerichard · ‎12-07-2019

sjrcpa · ‎12-07-2019

No. That would be boot. Gain to the extent of boot received is recognized.

The more I know the more I don’t know.

IRonMaN · ‎12-07-2019

Not exactly a like kind transfer if you get cash

Slava Ukraini!

Marc-TaxMan · ‎12-07-2019

Boot is taxable.