So, after paying off the mortgage,  would net $58k (and wouldn't pay capital gains taxes as I have so many losses from previous years).

However I only have 1 year of tax returns.

I can't say that same logic applies to JP, but it's a place to start.Also, are you going to be hit by inheritance tax on the home? 

An LLC could be a smart move for liability protection and tax reasons.

I know there will be taxes and fees I must pay to do this.

Hey @Christina Galdieri, I am a bit confused on your question but in general: If your asset is sold after 12 months from buying it, those gains are considered long term capital gains and taxed at a reduced rate. 

They have full real estate cycle experience, conservative leverage at around 40%, diversified thousands of properties across geography, and tax that they feel are recession resistant.

Hi All,Is it possible to avoid capital gain taxes if I use funds from an investment account to BRRR a property and then return all the funds to the account within the same year?

Looking for a CPA who can help navigate through the tax season!

I see lots of posts about trying to do this as a way of circumventing taxes, but nothing about doing it as a way to increase W-2 income.