Personal Finance (Not Investing) • Investment Property Sale and Tax Minimization

Hi Community:

Here is the situation: selling an investment property this year. Expected capital gain is ~$170k, Depreciaiton Recapture is ~$60k, Passive Losses is ~$50k. DW and I are at ~$225k taxable income (24% tax bracket) as of 2024.

We currently max out Roth 401k, Roth IRA, HSA and Taxable Account.

Does it make sense to switch to Pre-Tax 401k this year and potentially Pre-Tax IRA to lower taxes? That will minimize NIIT tax burden. We already max out HSA.

Any advice to minimize taxes would be appreciated! 1031 is not considered.

Thank you.

Statistics: Posted by mander75 — Wed Feb 05, 2025 6:09 pm — Replies 0 — Views 121

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