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SVTPerformance's Chain of Restaurants
Road Side Pub
1031 tax exchange on investment property
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<blockquote data-quote="PhoenixM3" data-source="post: 15891569" data-attributes="member: 140283"><p>Remember that if you want to avoid all capital gains tax, you must buy something of equal or greater value than the property you’re relinquishing. If you bought at $200k and sold at $700K, you have to buy property/properties greater than or equal to $700K. You could buy something for $500K, but you’ll pay capital gains on $200K. This is the way I understand it.</p></blockquote><p></p>
[QUOTE="PhoenixM3, post: 15891569, member: 140283"] Remember that if you want to avoid all capital gains tax, you must buy something of equal or greater value than the property you’re relinquishing. If you bought at $200k and sold at $700K, you have to buy property/properties greater than or equal to $700K. You could buy something for $500K, but you’ll pay capital gains on $200K. This is the way I understand it. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
1031 tax exchange on investment property
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