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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 120797  
Subject: Re: deferring taxes from real estate sales Date: 2/13/2000 12:20 PM
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<< 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
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