Agent

New real estate rule thwarts investor’s tax strategy

Home acquired in exchange can't be sold too quickly
Published on Mar 23, 2006

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by CareyBot

DEAR BOB: I bought a rental property in 1991, which I sold for $450,000. To avoid capital gain tax, I used an Internal Revenue Code 1031 tax-deferred exchange to buy another rental property for $450,000. After renting it for 12 ...

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