Mary's is a heart surgery hospital and Cabell Huntington is general surgery/ cancer treatment. 

@David West, The property you're selling would certainly qualify for 1031 treatment. 

@Rachel Campagnolo, In order to qualify for 1031 treatment the taxpayer for the old property has to be the same as the tax payer for the new property. 

Therefore, treatment will mirror your own personal residence (i.e. most expenses will be personal in nature and non-deductible).Any rent she does pay you is taxable in full with no deductions to offset.Then you contend with the gift tax issues.Generally not a good idea to rent to family, but if you do, make sure the rents are fair market. 

But in order to qualify for 1031 treatment you must not have accepted the burdens and benefits of ownership of the real estate. 

So that opens up more options than you thought.However, property that qualifies for 1031 treatment is property you purchased with the intent of holding for productive use. 

One last point - you typically do not want to make a C-election for rental real estate because you will give up LTCG treatment and the loss benefit of real estate investments.

Hi @Shafi Noss,I'm not a CPA, but my understanding is the appreciation realized on sale of a property are capital gains that are passed through to the LPs and subject to the same capital gains treatment as stock sale gains (as an example).One other thing to keep in mind is that any depreciation realized during the investment (including the accelerated depreciation we all love so much) is deferred, and will be used to lower your tax basis which can also increase the capital gains you show (unless you're rolling into a 1031, of course).Hope that helps.

Hey BP, With the forum flooded with tax questions I thought I'd throw one more into the mix. I have a $15,000 K-1 loss from an LLC that my partner and I actively run due to a few BRRRs with limited rental income. At t...

Maybe say it works best of you do a bunch of enemas while you're taking it over a two-week treatment period.Oh, come on!