Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

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

Tucsonpremium
Level 2

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.

 

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Best Answer

Accepted Solutions
IRonMaN
Level 15

Nope


Slava Ukraini!

View solution in original post

3 Comments 3
IRonMaN
Level 15

Nope


Slava Ukraini!
dascpa
Level 11

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

sjrcpa
Level 15

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.