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selling real estate and reinvesting..tax implications?
Posted on 8/21/15 at 4:55 pm
Posted on 8/21/15 at 4:55 pm
What is the time frame on selling real estate and reinvesting in real estate without paying capital gains? tia
2
Posted on 8/21/15 at 8:40 pm to WmWallace
14 days I believe
And it's income tax, not capital gains tax
And it's income tax, not capital gains tax
This post was edited on 8/21/15 at 8:42 pm
Posted on 8/21/15 at 10:01 pm to WmWallace
1031 tax deferred exchange.
45 days to identify replacement property; 180 days to close on ID'd property. Both run from the date of selling your property.
You need a qualified intermediary to qualify for the tax deferred benefits. You cannot have constructive receipt of the funds during the exchange period.
If you are actually in BR, I can recommend someone.
45 days to identify replacement property; 180 days to close on ID'd property. Both run from the date of selling your property.
You need a qualified intermediary to qualify for the tax deferred benefits. You cannot have constructive receipt of the funds during the exchange period.
If you are actually in BR, I can recommend someone.
This post was edited on 8/21/15 at 10:03 pm
Posted on 8/21/15 at 10:55 pm to NEWBIE
Thanks, I had heard about the 1031, but I've heard from 180 days to a year..so thanks for your input and I'd be grateful for a referral..
Posted on 8/21/15 at 10:59 pm to WmWallace
Title Exchange Company
This post was edited on 8/22/15 at 9:05 am
Posted on 8/21/15 at 11:27 pm to NEWBIE
thanks very much Newbie
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