Posted by John Merchant on April 27, 2010 at 24:02:47:
If your for-sale RE is a commercial property then your use of 1031 procedure and language would then entitle you to ID, then acquire a replacement property at no taxable gain.
But this has to be part of your sale and you couldn’t wait and decide to do a 1031 exchange later on.
contract for deed - Posted by Mark
Posted by Mark on April 25, 2010 at 17:46:12:
Is a contract for deed the same as a sale in terms of a taxable event? meaning does the irs look at that as an actual sale so that I would have to exchange into something else?
and does the buyer get to write off the interest on the payments to the mortgage holder?