Selling Rental, 1031 Exchange

[Juan Sandoval]

Aloha everyone, I'm trying to figure out a capital gains tax question. I have a rental I'm selling to my tenant. I purchased in 2003, lived in it as primary til Oct 2007. My understanding is active duty military has 15 years to sell and not get taxed, but lived in it at least 2. For some reason I think I'm good. Plan to close on it in the next month 2 months. Just trying to figure out if I need to 1031 or can I just sell it regularly and not get taxed. I plan on using it for future rentals, but don't want to have a hard timeline set on me if I don't have to.Thanks

[Juan Sandoval]

@Joe Splitrock, that is what I was afraid of. Yes I understand the depreciation recapture. I should have sold it by Oct 2021 to have qualified. But that means if I 1031, I can differ that. Time to go shopping for a multi-family. Thank you