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Updated over 11 years ago,

User Stats

4
Posts
0
Votes
Freida Whatley
  • Homeowner
  • Jacksonville, AL
0
Votes |
4
Posts

Selling rental property and not reinvesting in rental

Freida Whatley
  • Homeowner
  • Jacksonville, AL
Posted

I am a first time user of Bigger Pockets but have a question that I cannot find an answer to by other means. I decided to see if anyone here could help me. My husband and I live in AL and own a condo in FL that we would like to sell. We are also selling our home in Jacksonville in order to move to Birmingham and we do not want to reinvest in rental property but want to use the money to purchase a home for our primary residence. I know IRS will get a chunk of this but am wondering if there is any legal way to invest this money in our home without them getting so much? Does anyone have any experience in this??

MODERATOR: THIS IS NOT AN OFFER TO SELL THIS PROPERTY. POSTS OFFERING ASSISTANCE IN SELLING THE PROPERTY OR TO BUY THIS PROPERTY WILL BE REMOVED.

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