Posted by CHET on February 26, 2005 at 19:36:26:
look for info on a 1031 exchange as background. It doesn’t seem that 1031 would apply here since the old and new properties are ot “like kind” (building v. raw land).
you might also contact a very experience RE attorney for other treicks you might try.
tax consequences ? - Posted by briang
Posted by briang on February 26, 2005 at 14:58:40:
I have a client who asked me a question and I am looking around for some accurate info.
He has a commercial building with about $360K of equity.
He asked about the tax consequences of selling that property, taking his profit and purchasing some vacant land for investment purposes.
Any thoughts?
Thank you.