Quote:
Originally Posted by mvbird
Suppose you are 75 yrs +, kids grown, have owned a patio villa, tenant moved out, and you're thinking of selling it. But what next ? and where ? Put proceeds in the bank ? Look in North Carolina ? Roll it over.. 1031 ...into another rental home? A different 55+ community like Margaritaville or James Plantation? Donation to MSPCA? Simplify life and put it in an S&P index fund ? Always enjoy the intelligent comments of the forum.
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I agree it might be better to find another renter or roll it over. Any depreciation you claimed will be taxable at 25% even if you sell at a loss.