The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/apparently-i-did-miss-something-thanks-bob-14393528.aspx

Subject:  Re: Deemed Sale of Personal Residence Date:  2/21/2001  11:40 AM
Author:  ataxwitch Number:  46880 of 121217

Apparently I did miss something. Thanks, Bob.

However, there is a provision in the "deemed sale" statute that requires the seller to recognize gain on a deemed sale "notwithstanding any provision of the Internal Revenue Code".

That would suggest that the seller could not exclude the gain under Sec. 121.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us