Selling Rental Property with new Tax Plan
Hello BP members! My wife and I are trying to wrap our heads around the new tax plan before we dive into 2019. We own a rental property that went through a 1031 exchange in 2016. If we were to sell this property in 2019 we are under the impression that you will not owe capital gains on the profit if your taxable ordinary income is less than $77,200....?