Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (13) | Ignore Thread Prev | Next
Author: 4thebird Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 124930  
Subject: Re: like kind sale/purchase Date: 4/1/2010 7:38 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
the CPA likes me to figure some things out for myself

What kind of a nitwit do you have for a CPA?? You're paying them to figure out the tax implications for you and advise you. You shouldn't have to figure out the tax impacts on your own.

However, you do need to make your own decisions as to what to do. But the CPA should tell you if a 1031 would be of benefit to you, and what kind of property you need to look for as a replacement property. He should help you figure out the basis in the property, but it's up to you to decide to sell or keep.

See the difference??
do real estate, too much trouble, will work through this yet. I will be ready tomorrow with the questions to ask. thanks.

ever think I might be the nitwit?
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (13) | Ignore Thread Prev | Next


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.
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 Glassdoor #1 Company to Work For 2015! 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.