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- If a Michigan resident sold a Michigan property at a gain and deferred it to a Florida property purchase under section 1035, is any current year Michigan tax due that ?
If a Michigan resident sold a Michigan property at a gain and deferred it to a Florida property purchase under section 1035, is any current year Michigan tax due that ?
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moabut_00
Level 1
09-21-2022
10:36 AM
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Just-Lisa-Now-
Level 15
09-21-2022
10:52 AM
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I think you mean a 1031 exchange, 1035 is for life insurance or annuity exchange. A 1031 intermediary must be used for this sale/purchase.
You may want to read up on Michigan and 1031 exchanges, I know in CA we have to file a CA 1031 form each year.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
