Yes, that’s right I can’t take cap gains on Clairemont. What’s are good reasons for holding long term? Long term is not work-free… Rents commanded are not a ton more than my mortgage and maintenance costs. In fact, I don’t think I’ve yet broken even with the maintenance I had to do in the years I’ve rented it out. Perhaps those deferred maintenance issues are done now, and I won’t have as many large expenses anymore. If I sell, even without cap gains exclusion benefits, I would still cash out a decent chunk and could just dump it into the stock market. Maybe I’ll wait and see if Build Back Better actually passes and kills step-up in basis at death. Or maybe I just hold until these times of massive appreciation stop/slow.
I agree on UC. Plus our neighbor there is a real thorn.
