Real estate tip: Rentals offer tax treasures

Can you defer capital gains on a rental property?

The IRS allows property owners to defer capital gains liability if they buy another rental property and meet the requirements for a so-called 1031 exchange. The IRS does not allow property owners to defer their capital gains tax from the sale of a rental property if they use the proceeds to buy a personal residence. The proceeds must go into another rental property. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....