Yeah I almost got hammered with that when I moved. However I know someone who moved and changed his residence to his sisters house in the old state instead of where he moved to. Avoids the capital gains and just change the address later.
It was transferred to me and while it’s only valued at $750,000 for property tax purposes the acreage is worth between 1.2 to 1.5 per acre. So I have to wait according to my attorney and cpa.
(post is archived)