Updated over 4 years ago on . Most recent reply
Capital Gains Help- Sale of Investment Property
My retired parents (in their 80's) are selling an investment property. They purchased it for 770k and it is now selling for 1.2 It was too much maintenance and work. They were considering doing a 1031 exchange but don't want the maintenance and work of the acquired property/properties. They make about 25k a year and were worried about capital gains tax from the sale. Are there any options to help with the tax liability?