$49 Million Penthouse Breaking San Francisco Real Estate Records
SAN FRANCISCO (KPIX 5) â A massive penthouse condo atop a luxury high-rise in San Francisco's South of Market is being offered for a whopping $49 million, shattering local real estate records. The Lumina high-rise project is a couple of years away from ...
I have a few properties I'm looking to sell off. Currently, my taxable income is extremely low. (under 20K) What is the best way to sell of these properties without getting killed in capital gains tax?
Notes. -I don't need the money. It will be invested when I cash out. -There is no state income tax in FL. -I could space this out over the course of 2 fiscal years.
Edit: -I currently live in one of the properties. -3 in all will be sold. (all multifamily homes not sure if that matters) -I don't want to reinvest it in real estate. I will be moving out of state for work in two years. I don't want to invest right away in a new property in a new state.I want to make sure I like it there first. -I will most definitely talk to my financial adviser and CPA before I do anything. -Is there something like a 1031 but into some other type of investment (not real estate)? *These properties are owned out right. Can I Mortgage them out, then sell them and pay off the mortgage?
Sorry for strange formatting... Doing this from a cracked phone. Will edit again as I find more information request.
[link] [78 comments]