Creating ways to sell and offset gains?

[Mayer M.]

Hey all,

Looking for creative ways to sell assets and offset/reduce capital gains without doing a 1031 exchange.

Background:

I have a sale occurring for a bunch of condos I own which will be subject to long term capital gains, I’ve also just completed a new construction duplex that I am selling, originally purchased the land almost two years ago. On top of this I’m completing 3 triplexes.

The original tax strategy was to keep the triplexes and implement cost segregation to offset the gains on the sale of the condos and duplex and a few years down the line sell the triplexes and offset the gains with other depreciation.

I may have an opportunity to sell my triplexes at a much higher amount than I would’ve expected and I also just discovered that there are 60 affordable housing units being built directly behind me by the city which I’d think is a negative for my buildings.

Any ideas on how to be able to sell these without a massive tax burden?