Avoiding captial gains tax without 1031 exchange
Hi BP,
I am in the beginning stages of selling my home. I do not have a replacement property right now but was wondering if there is a way to avoid paying captial gains tax without doing a 1031 exchange?
Per my accountant, estimated numbers are:
207k for capital gain
Federal would take 22k
State would want 13.5k
Any advice and help would be appreciated. If more information is needed, I'll gladly provide it!
Thank you!