Huge capital gains taxes when downsizing from inherited house

That's pretty much it. I know it's unavoidable, but dang!

I thought I'd stay here forever, but the area around my neighborhood has gone downhill while remaining a HCOL area. I'd like to move to a nicer 55+ neighborhood in the same city and downsize to a 2 bed 2 bath 1 story condo.

I inherited my house from my Dad in 1992 and have lived in it ever since. Awaiting a historical appraisal for the value at that time, which I'm guessing was maybe $120,000 to $130,000 at the most, and possibly even less.

Current value is at least $700,000, so even with the $250,000 deduction for single filers it will be a huge tax hit. I remodeled the kitchen and baths quite a few years ago and now those updates are old.

I'm also not sure if or how much to invest prior to selling. I had a new roof put on a few years ago. It needs windows, probably a re-stucco, floors. Kitchen and baths could use upgrading again.

Just curious if anyone else had a similar situation and your thoughts.

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u/goldentalus70 — 10 hours ago

SATOR square experience

When I was a teenager, I read a lot of witchcraft and occult books. One had a SATOR square spell that said you could summon a demon to do your bidding.

I made a SATOR square on parchment paper with India black ink and an old fountain pen. In broad daylight, I stood in one of the bedrooms in our house and put the square in my open hand. I started chanting the words in the square over and over.

All of a sudden, I smelled sulphur. There was nothing in the house that smelled like that. I panicked and ran out of the room, and put the square away in the book.

About a week later, my oldest sister who was in college came over. It was just us two in the house. I didn't tell her what happened but I asked her to stand in the same place I had before, and confirmed that she did not smell anything. I held the square and started doing the chant again, and the sulphur smell immediately came back. She noticed it and said she was smelling sulphur. I stopped doing the chant and we left the room.

I didn't tell her what it was for, but we both agreed that it was weird. I never did it again.

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u/goldentalus70 — 10 days ago

Remember when makeup was easy to remove?

Eye makeup especially. Even the supposed water-based mascaras I've tried are like glue. The ads that say, "Lasts 72 hours" are ridiculous. No one should leave any makeup on past the end of the day.

I haven't tried any of the "tubing" ones because it just sounds weird and the tubes probably get in your eyes or something anyway.

I miss my old 1970s Cover Girl Thick Lash Mascara!

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u/goldentalus70 — 2 months ago