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Subject:  Re: Minimize Cap. Gain on sell of vacation home Date:  11/4/2000  9:00 PM
Author:  rehobothfool Number:  41484 of 131768

Ask a good real estate attorney about using a Starker tax-deferred exchange and whether it would suit your uses. (You can search the web for information to get an idea of how it could be useful to you)
If you want the money immediately--it won't help. But if you would like to avoid 15% or 28% tax you can do it legally using the 1031 Starker exchange and then converting the exchanged property into your residence and avoid paying taxes on $250,00 to $500,000 of capital gains.
This is what rich people do all the time (That's how they got and stay rich :-)

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