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Updated 3 months ago,
1031 only option?
I had intended to sell about $5.3MM of rental property and simply use the profits to may off debt on other notes. However, I'm told my tax basis will be close to $2MM after depreciation recapture.
Does anyone have any ideas on how to minimize that tax liability and still continue with my original intent, or is my only option a 1031 (I'm aware of DST but don't see that as a great option).
If so - any thoughts on rolling the profits from residential multi family sale into a commercial office building? Is office still underperforming or is now seen as a safe investment again?