Discussion:Threat of Condemnation
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Discussion Forum Index --> Tax Questions --> Threat of Condemnation
| 19 September 2006 | |
| Was reseaching info. for client, who has to sell country grocery store due to 4 laneing of road. Got a lot of good info. from Pub. 544. Wondering if anyone knows of more info I can use in assisting client in regards to reporting gain or postponement of gain. I don't think the process will be completed by end of year but who knows.....dealing with NC DOT. Want enough of info. so we know all our options are. | |
Bottom Line (talk|edits) said: | 19 September 2006 |
| Don't remember the code right now, but if property is condemned involuntarily (like for a road widening) you can apply standards similar to 1031 exchange without having to jump through the 1031 hoops. It will be a couple of weeks before I can get the exact #. VACATION!! | |
Bottom Line (talk|edits) said: | 20 September 2006 |
| Thanks Solomon! | |
SPAM post removed
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