Offset Capital Gain Tax

[Daniel Trzaskos]

Long story short I sold a rental I had and walked away with approx. 90k. For a variety of reasons I wasn't able to do a 1031 exchange. Was wondering if anyone had any advice to offset the capital gains tax I'm on the hook for. I did speak with my CPA but didn't come out of that meeting feeling like I had a good answer. (It was recommended I invest in an opportunity zone. Not sure I want to do that.) So.. anyone have any ideas on offsetting that tax? 

[Ashish Acharya]

Yes OPZ works and it gives you 5 years to plan your taxes in such a way that you don't have to pay taxes when you have to pick it up. 

If you invest in crypto, you can harness the losses with the normal wash sale rules.

OR we can plan your next RE investment in such a way that it basically offsets your gain, but you need to talk to your tax advisor or find a new one if your CPA is not helping.