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Discussion Forum Index --> Tax Questions --> Gains Tax on Sale of Investment Property
Mukhtar (talk|edits) said:
| 8 April 2006
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| Is there any way we can avoid paying gains tax if we sell a property and then re-invest portion of the gain in buying another investment property.
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John1 (talk|edits) said:
| 8 April 2006
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| a 1031 exchange accomplishes that.
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John1 (talk|edits) said:
| 8 April 2006
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| Do a google search on "1031 exchange." There are lots of sites out there explaining exactly how to go about doing one.
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Solomon (talk|edits) said:
| 8 April 2006
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| When you say "sell", then the only way is to have a qualified intermediary do it.
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Taxref (talk|edits) said:
| 8 April 2006
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| John1 is correct. I would add that the 1031 exchange must be arranged in advance, and all steps and time limits followed. The portion of the gain received in cash would be taxable.
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