Batson Accounting & Tax, Greenville SC

Real World Tax Questions

Can I reinvest my real estate profit and escape taxation?

Jeffrey bought a lot several years ago for $60,000. He now has a contract to sell it for $110,000, resulting in a $50,000 profit. He has been told by a friend that if he reinvests the profit in another piece of land he can defer the taxes until he sells the new property acquired. Is this true?


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Real World Tax Questions

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Batson Accounting & Tax, Greenville, SC

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