Investing in property can be incredibly lucrative, but there are hurdles to navigate, including learning how to sell rental property without paying taxes. If you’re looking to purchase a property to rent, or you’re thinking of selling a house or condo you’re already renting out, it’s wise to ensure you have an in-depth understanding of how rental real estate taxes work.
While IRS taxation isn’t always the simplest subject matter to digest, there are ways to save money when you sell. Some of the most common ways to sell a rental property without paying taxes are:
● Utilizing a 1031 real estate exchange
● Offsetting property gains with losses
● Converting a rental property into a primary residence
Every investor’s situation is…