Can I use profit from an investment sale to payoff a home equity loan to avoid capital gains tax? and IMF Conference: Sustainable Investment scaling up in LIC

Can I use profit from an investment sale to payoff a home equity loan to avoid capital gains tax?

I recently sold an investment property with some profit and if I use this money to payoff an home equity line on my primary residence, will I have to pay taxes on it?


Investment best answer:

Answer by Wayne Z
Yes, you will have to pay taxes.

The only way to postpone taxes on an investment property is to exchange it for another investment property. The above transaction does not qualify.

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IMF Conference: Sustainable Investment scaling up in LIC


Image by International Monetary Fund
IMF Conference: Sustainable Investment scaling up in Low Income Countries

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