Capital Gains TAX Avoidance

[Gjon Rexha]

Hello all First post! My firm is purchasing a MF property from this couple in their mid 70s-80s. They purchased the property in 1992 and are looking to avoid paying capital gains tax on the property. What would be the best course of action to close this deal (besides 1031 exchange). They purchased this property for 2.2M and we are buying for 3M. Thank you!

[Pat Alford]

They could sell the property to me for $100,000, which would be below the remaining depreciation, and I’ll sell it to you for 2.9million. They can avoid taxes, you get a better deal, and I will NOT complain about the capital gains tax at all
That’s a Win-Win-Win, if ever there was such a thing.

Actually I don’t have a clue, but I did have a joke, so I contribute whatever I can.