🔺 r/personalfinanceuLeadingProfile7178·15 days ago
Sold massive parcel of land for huge profit what do I do?
During Covid a couple of friends and I bought land in Texas. My portion of the land will sell for 880k (paid 150k, plus 30k in improvments, will pay about 125 in capital gains). My wife and I total household income is 200k, both of us have now started to max out 401k. We owe 353k at 4.99 on a home and about around 7k in zero percent debt. We have 5500 in a HSA, 30k in a joint account and are expecting in January. Pay the mortgage is the first step then what? Edit Can’t roll it into a 1031 since it was a LLC property with multiple owners. submitted by /u/LeadingProfile7178 to r/personalfinance [link] [comments]