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Tucsonpremium
Level 3
December 22, 2021
Solved

Using the gain from selling a business to buy real estate, can that be use to avoid paying taxes?

  • December 22, 2021
  • 3 replies
  • 9 views

This business does not includes real estate, just inventory and other property. He wants to use the proceeds to invest in real estate, to avoid or to lower his Capital gains and pay less taxes.

 

This topic has been closed for replies.
Best answer by IRonMaN

Nope

3 replies

IRonMaN
IRonMaNAnswer
Level 15
December 22, 2021

Nope

Slava Ukraini!
    dascpa
    dascpa
    Level 11
    December 23, 2021

    Section 1031 like-kind exchanges now only work for real estate to real estate.  Business to real estate is no longer an option.

      sjrcpa
      sjrcpa
      Level 15
      December 23, 2021

      He can use the proceeds however he wants but it won't reduce the taxable gain on the sale

      The more I know the more I don’t know.
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