Home A bought $272k @ 3.5% 30 year mortgage. Potentially sale price today @ $400k:
I have a rental property which was my primary residence for 21 months. The tenants’ lease ends March 2022. Rents at $2.1kpm.
Home B bought $446k @ 2.5% 30 year mortgage. Potentially sale price today @ $500k:
I live in a primary residence I have owned since Jan 2021.
Home C eyeing that may come to market in Spring 2022 for $620K
I’d love to buy this and convert it into my primary residence.
If rates stay at where they are at, I think I’d put 20% down for Home C. But I am not sure how to go about selling Homes A and B.
I’d need another 3 months in Home A before I can be fully tax exempt on its sale.
When I sell Home B, I think my tax obligations can be filed at the 15% long term gain rate since I’d have held the home for at least a year.
Is there any way I can may be strategize the sales of Homes A and B to minimize my tax obligations? Is there any way I could take advantage of a 1031 on Home B?