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Message
re: 1031 Exchange Rules are terrible
Posted on 11/10/23 at 10:06 am to ThisWayChad
Posted on 11/10/23 at 10:06 am to ThisWayChad
quote:
the idea is to keep your capital in real estate,
The idea is the avoid paying taxes on your CAPITAL GAINS...why should you have to reinvest your original capital to avoid paying taxes only on gains? You should be able to only reinvest the actual gains
4
Posted on 11/10/23 at 10:12 am to sidewalkside
quote:
The idea is the avoid paying taxes on your CAPITAL GAINS...why should you have to reinvest your original capital to avoid paying taxes only on gains?
Bc that’s the rules you agreed to. If you don’t like it, don’t participate in the program and pay capital gains.
quote:
You should be able to only reinvest the actual gains
Not according to the rules of the program.
Posted on 11/10/23 at 10:15 am to sidewalkside
quote:
The idea is the avoid paying taxes on your CAPITAL GAINS
Capital gains are the lowest and most preferential in history. Again, stop being a whiny entitled bitch and do your 1031 exchange.
You sound like a petulant child.
quote:
why should you have to reinvest your original capital to avoid paying taxes only on gains?
Because those are the frickin rules dude. You want to be granted a generous shield from taxation you will have to play the game and follow the rules.
quote:
You should be able to only reinvest the actual gains
Take it up with your Congressman.
You are getting to shield yourself from the lowest capital gains rates in history through a very generous code section and are still crying.
Noone here cares or feels bad for you. This thread is pathetic.
Posted on 11/10/23 at 1:58 pm to sidewalkside
quote:
The idea is the avoid paying taxes on your CAPITAL GAINS...why should you have to reinvest your original capital to avoid paying taxes only on gains? You should be able to only reinvest the actual gains
If the description in OP is accurate, then it is a messed up law. If I have 500k sitting in a savings account, mine free and clear, and I buy a property with it, then sell the property for 600k, why is the 500k suddenly subject to taxation? It’s my money.
Posted on 11/10/23 at 3:31 pm to sidewalkside
quote:without the original capital there is no gain?
why should you have to reinvest your original capital to avoid paying taxes only on gains?
You should have been making money on it for years anyway. Why complain when they don’t want you to double dip. Invest in a newer property that will increase your income. Or next time find a way to show a loss.
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