If you think ahead, you can minimize recapture with the right tax planning.So what is recapture?

It is my understanding that the new owner will have the house at the cost basis of my purchase price, for calculating capital gains taxes or depreciation.For gift tax purposes for you - FMV.For capital gain tax purposes for the recipient - your original basis/purchase price 

This is tax free. 

I am looking to purchase real estate for both investment purpose as well as to offset as much tax liability as possible. 

We are now married and I expect we'll file our 2024 taxes jointly.

So we GAIN 7million + tax payors etc.. 

Any tax pro who is familiar with REI will be able to help you.

You need to have the income and tax liability to support the depreciation.

@Brad Kanouse Using Traditional IRA funds for an investment property typically incurs income tax and a 10% penalty if you’re under 59½, as investment properties don’t qualify for tax exemptions.

In that case you might save taxes building with them.