@mowmowme wrote:
Isn’t there something called the 1031 exchange? If the property becomes a rental, and I sell and purchase a new similar property, tax doesn’t apply.
Are you saying that you would treat the sale of the rental property as a 1031 exchange for your new home? You can't do that. You can't do a 1031 exchange for your personal residence, only for business or investment property. You could exchange one rental property for a different rental property, but not for your personal home.
