by TOM COOPER on October 25th, 2005

TOM COOPER

Question

Help answer this question below.

How long do I have to reinvest the gains from the sale of a property before they are subject to capital gains tax?

Answers. 1 helpful answer below.

  • by Paula Straub on January 19th, 2006

    Paula Straub

    If your property is your personal residence, and you have lived in it for at least 2 of the last 5 years, you can take a personal exemption of 250K in gains if single and 500K if married without paying capital gains tax. You can do whatever you'd like with those gains.

    If the property is an investment property, you must take action to do a 1031 exchange or another tax saving measure BEFORE selling. After sale, it is too late to do anything to avoid capital gains tax.

    Paula Straub

    No comments. Post one | Permalink

Want to attach an image to your answer? Click here.

Did this answer your question? If not, then ask a new question or create a poll.

You're reading How long do I have to reinvest the gains from the sale of a property before they are subject to capital gains tax?

Follow us on Facebook!

Related Ads

ANSWERBAG BUZZ

How long do i have to reinvest capital gains
How long do you have to reinvest capital gains
How long to reinvest before capital gains
How much time to reinvest before paying capital gains
How long till you have to reinvest money to avoid capital gains