I recently sold a rental property, cash sale. Look out, long term federal capital gains 15% Plus regular state and local taxes.
And it pushed my income into a higher tax bracket which played games with my medicare.
Please talk to your CPA. My CPA advised me not to sell it because I would take a tax hit. He said it's better for me not to sell. My kids will not pay very much inheritance taxes. I went to college with my CPA. He's been doing my taxes forever.
If you want to sell one property and buy another property there is a way to get the job done and not pay capital gains.
Talk to professionals. CPA or a title company.
Each to their own. I once bought a property on contract. Sellers died, his kid filed bankruptcy, and that left me a MESS. A divorce could be messy too. NEVER will sell on contract and I leave my kids in a mess like I was in.
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Today's Featured Article - Ford Part Number Trivia - by Forum Participants. "Replaced by" means the part was superseded. All of my part books date back to 1964 and New Holland have changed some part numbers. They usually put the old Ford part number on the package. I was suppressed when I looked up the part number of the auxiliary drive shaft because for some reason the part number went through a radical change and it lost its "Basic Part Number". Ford part numbers follow the following rules. Most part numbers are in three parts. The middle part is called the
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