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Investors & landlords
You should read through the IRS publication at the link below.
https://www.irs.gov/publications/p523#en_US_2020_publink100073574
Note that you will have to recapture depreciation deductions taken (or which should have been taken) on your rental property if you sell at a gain.
You may be able to defer capital gains (and depreciation recapture) via a like-kind (Section 1031) exchange with respect to your rental property.
See https://www.irs.gov/publications/p544#en_US_2020_publink100072369
‎September 19, 2021
8:06 AM