Reduce long-term capital gain taxes

[Elena Coney]

Hello! Can anyone suggest what we could do to reduce the taxes on the significant capital gains from the sale of our property this year? Unfortunately we were not able to perform 1031 exchange due to lack of time and now have to come up with a new solution. We are also planning to buy a multi-family property. Would the mortgage (interest payments) on it or smth. else somehow help to reduce the taxes from the previous gain? Thank you so much in advance.

[Malik R.]

Is there a reason you didn't consider the 1031 exchange funds in a DST? I've just sold a property and placed our funds with a 1031 Qualified Intermediary. If we can't find suitable properties then investing in a DST is our backup plan.