Seeking help calculating capital gains tax owed

[Jim Hwang]

Hello all, I'm trying to figure out the opportunity cost of doing a 1031 vs. Taking the tax hit in order to have more liquid capital to invest. I'm getting a wide range of estimates as a novice and would really appreciate anyone's help. The rental property was purchased for 325K and sold for 500K. It was jointly owned and so my gross gain is 250K. I netted 115K after mortgage payoff, commissions, and closing costs. I'm married filing jointly and have only 20K of taxable W2 income due to having a foreign income exemption and wife being a homemaker. Importantly, I rented it out the past 15 years, so the depreciation recapture is the real monkey on my back. Minimal other cap expenditures, as it was a new A class property when purchased. I would be happy to give any other info you need. I'm new to BP and I can't believe how much people here want to help. Thanks!