How much would I pay in Capital gains tax

[Jonathan Freeman]

I own a 2 family and am looking to sell it. I am trying to figure out how much I would pay in taxes.

Purchase price $145k

I owe $122k

I wanna sell the property for $250k

It is a rental property.

i have 2 questions

1. How much will I get taxed when i sell the house?

2. Is there a way to avoid tax if

A. I put the money into our residence (multi family to single familyresidence) does that work for a 1031 exchange?

B. Sell or gift the property to family (my parents may want to buy the property)

[Basit Siddiqi]

@Jonathan Freeman

This is an answer your accountant should be able to answer.
it depends on your capital gains tax rate.
It depends on your state tax marginal rate.
it depends on how much depreciation you took on the property already.
it depends on how much improvements you made.

You can still avoid the tax doing a 1031 exchange. @Dave Foster is your man for 1031 exchanges.