Suppose you own a rental house or condo, apartment building, commercial property, warehouse, office building or even vacant land, which is now worth much more than you paid for it years ago. You've also probably been enjoying non-cash depreciation tax deductions for estimated wear, tear and obsolescence, thus reducing your adjusted cost basis (and your annual income taxes). However, if you sell, you'll owe a large capital gain tax. Is there any way to avoid tax on the sale of an investment property? Thankfully, the answer is "yes." TAX-DEFERRED EXCHANGES FOR 'MOM AND POP' AS WELL AS BIG CORPORATIONS. Millions of "mom and pop" U.S. realty investors have discovered Internal Revenue Code §1031 tax-deferred exchanges. This is the only tax-free way to pyramid your real estate wealth witho...
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