Question
capital gains
Hello All!
I sold an investment property(airbnb), made a nice profit but decided it was too stressful to do a 1031 exchange for the new property. I felt the timeline obligation-45 days to select a new property, make an offer and close 180 days would force me to possibly lose my negotiating ability on that new property..
Anyway, I DID buy a new investment property, and spent all the proceeds from the sold property. Am I able to do ANYTHING to mitigate all the gains I will have to pay, since I did not defer with the use of the 1031??
Most appreciated ideas-
Diane
