Is there a solution for this?

[Ouman You]

;Hi guys,

A house that we owned for over 40 years (original price 80k) now is worth 3.5m....we wanna sell and buy in a neighborhood close by.... But we found out that we will get taxed 32% capital gains on the sale. The house we wanna buy is close in price, so if we do sell and pay the capital gains we won't have enough funds to buy the new house and also pay off some personal loans and other things.

1031 exchange is out of the question, since we never rented the house and we are not willing to....What do you guys suggest we do in this case?

ps: House in California.

[Diane G.]

$80K to $3.5m... that is not the worst problem on this planet....

You have California to thank ... lol