1031 Exchange Vs. CRT
Hello BPers,
I own a rental property (single family home) in CA bay area, and I was looking into doing a 1031 exchange with a larger property as a way to upgrade income. But on second thoughts, after years of being a landlord, I am beginning to get tired of dealing with tenants, the never ending upkeep and of course the "stress" ! (I'm not that old, but handling a rental property still wears down on me !!). So, when I was looking at other options to avoid paying capital gains tax, I stumbled upon CRT (Charitable Remainder Trust). If any of you have considered or done this, I would sure love to hear your experiences. Can CRT be a reliable source of "better and stress-free" income compared to rental income?
Appreciate your thoughts.
Thanks.