Investors & landlords

@astridwilson 

 

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