1031 versus Capitals Gains
I recently retired and I am unable to do maintenance work on my 3 family home. I purchased it in 1985 and have been living in 1 apt as my primary home and renting out the other 2 apts. when I purchased it I paid 15,000.00 dollars and have to do over all 3 apts for a cost of 150,000.00 over all these years. I have been taking the depression for it over the 34 years. Now that I'm unable to maintain it I'm thinking of selling an buying 2 condos north and south 1 primarily for living and one for 2nd home
I know 2/3 is going to be capital gains and some getting to be written off for work done, what would be my best route to attack my problem
Bite the bullet and pay the capital gains / really don’t want to go 1031 because I think I’ll be back in the same position