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Help answer this question below.
If it was an investment property and you did not put a strategy in place prior to close you will owe tax. If you lived in it for at least 2 of the last 5 years you will have a 250K (single) 500k(married) exclusion to offset gains. You do not have to purchase another home.
Paula Straub
www.savegainstax.com
Selling 14m $ worth of property for 6m to avoid chapter 7 buyer will then lease- back the properties to seller with repurchase option 6m & interest . to avoid capital gains on 3m .Can the seller sell the property for 3m &loan3m.
by con on February 8th, 2008
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My husband and his three siblings are going to sell property thay acquired from their parents when they died. Can they take their share and invest it back into their own home and keep from paying Capital Gains?
by Anonymous on October 17th, 2007
| 1 person likes this
I bought the home I live in 7 yrs ago for 400K, I will be selling for 800K. I am looking to reinvest but in multiple properties. One to live and a couple to rent. (Obviously a less expensive state to live in). How do I best protect as mu
by Fritz991f8c on August 17th, 2007
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My fiancee and I both own our own homes. He plans on selling his and moving into mine. Will he have to reinvest his proceeds into another home to avoid the Capital gains tax and how long does he have to do so? He will make under $250K on the sale.
by Getting By on July 17th, 2008
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I am divorcing. We own a 40 acre Horse Ranch. The Ranch consists of 4 separate parcels. I will receive two parcels of apx. 5 acres each. I would like to liquidate the parcels ,and purchase a retirement home. How can I avoid Capital Gains Tax?
by Randy on July 28th, 2008
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You're reading I recently sold a piece of land in a residential area. I plan on buying a home in another state. How can I avoid capital gains tax or at least a portion of it?
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