How to avoid paying taxes on depreciation deductions
I have a rental I am interested in selling. This rental was originally my primary residence. I have been renting it for the past 6 years. I have, of course deducted the depreciation from it during that time.... about up to $50,000. I do know that if I sell it, I'll owe taxes on the depreciation I've deducted. Question, is there any way that I can avoid paying taxes on the already deducted depreciation? Can i do a 1031 exchange to avoid/kick that can down the road?
Jason