That is what we thought, but are being told we have to pay SS and medicare on this now even though it is "deferred." 

Quote from @Matt Wan: Can I purchase a property using a traditional mortgage without being physically present for any part of the process?

When dissolving your two-member LLC and selling a property, deferring capital gains taxes individually can be complex.

Quote from @Melanie Baldridge: In 2025 the bonus depreciation rate is 40%.This means that if you bought a property for $1M in 2025, did a cost seg study and found $300K in eligible assets that you could depreciate, you could take 40% of that $300K as bonus depreciation to offset your income in the first year.40% of $300K = $120K.You then apply that $120K to the owner’s personal tax rate to find the final amount that they can defer in year 1.If your tax rate is 37%, you can defer $66.6K.This is a big deal even at the 40% bonus depreciation rate this year.It’s a massive benefit 

My understanding is that you can sell assets and defer capital gaines taxes in an opportunity zone until the property is sold.

He is older and does not have a mortgage and there is a lot of deferred maintenance on the property.

But here are ways to reduce capital gains taxes:Deduct expenses (renovation, selling costs) in 2024 to offset gains.Hold for 1+ year to qualify for lower long-term capital gains tax rates.Invest in a Qualified Opportunity Fund (QOF) to defer taxes.Use tax-loss harvesting to offset gains with investment losses.Pushing 2024 deductions to 2025 won’t help much with 2024 capital gains.

STR loophole or strategy is a great way to help defer taxes. 

Selling a primary residence and then buying it back as part of a 1031 exchange could raise red flags with the IRS.Your parents have a valuable opportunity to defer a significant amount of taxes by utilizing the $500,000 exclusion on their primary residence.

To minimize taxes, consider the following strategies:1031 Exchange Before Dissolution – The corporation could complete a like-kind exchange, allowing investors to roll their ownership into individual properties while deferring capital gains tax.