All Forum Posts by: Stacy Hull

Thinking about doing a reverse 1031 exchange but it sounds really complicated.  Does anyone have experience and tips on this?

I am trying to help my mother sell her rental house.  It has just become too much for her to handle.  I am worried about the taxes that will be due when we sell.  She paid 90,000 cash for it 5 years ago so it has 5 years of depreciation. We have put in around 10000.00 in repairs to bathrooms and plumbing.  We are also thinking about putting on vinyl siding before putting it on the market but not sure if it will help with tax costs.  I need help in determining what type of taxes we would be looking at and if there is anyway to minimize those.  She does not wish to purchase another house at this time.  We can maybe sell the house for 90000 to 95000.