Posted by Mike on May 31, 2009 at 05:50:31:
In Reply to: Re: One more thought posted by ray@lcorn on May 27, 2009 at 11:20:22:
Im confused! If you invest all of the $800,000 back into real estate before Dec 31 of this year then wont you avoid paying any taxes on it?
Or will you be taxed on all the recapturing of the depreciation you took over the years of owning the property.
For instance my accountant told me that if I make $50,000 profit from a flip and reinvest that money before Dec 31 of that year, back into real estate, stocks, bonds, bank cds, etc then I would not have to pay any captial gains tax on that money?
Is this not the case?
- Re: One more thought ray@lcorn 10:24:24 06/02/09 (0)
- Re: One more thought Mike S. 15:53:44 05/31/09 (0)