Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: Re: deferring taxes from real estate sales Date: 2/13/2000 12:20 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
<< I recently read a book in which the author said he was able to defer paying taxes on the sale of investment real estate property using the tax code rules found in 1031. He claims when you sells real estate and re-invest the money you don't pay taxes on you profit until the final liquidation. I have talked with a tax preparer and he said this is a misinterpretation of the law. Does anyone know anything about this? >>

Lots of people know a lot about it, but evidently not the preparer you talked to. THIS preparer knows that it exists, that it's full of potential pitfalls, and that if you are contemplating doing it you need to engage the services of an advisor who is initmately familiar with it. Unfortunately, that's about all I know about it.

You might try the FAQ and a search on "1031."

Phil Marti
Tax Preparer
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Post of the Day:
Value Hounds

Mylan Transitioning from Generics
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement