If I sell a commercial building in New Mexico for a huge profit. Any way to not pay huge cap gain? owned 10 yr

Answer 1

I wouldn't characterize current capital gain rates as "huge" in any case. However, you may have some gain that is not eligible for capital gain rates.

The traditional way of deferring gain from disposition of real estate is to arrange a like-kind exchange. For example, if you want to reinvest your sale proceeds in another property, you can arrange for an intermediary to purchase the other property, then trade it to you for the property you are disposing of.

You should consult a qualified advisor for more complete advice.