Tucsonpremium
Level 2
‎12-21-2021 09:39 PM

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.

 

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IRonMaN
Level 15
‎12-21-2021 09:46 PM

Nope


Slava Ukraini!

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dascpa
Level 11
‎12-23-2021 11:06 AM

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

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sjrcpa
Level 15
‎12-23-2021 01:18 PM

He can use the proceeds however he wants but it won't reduce the taxable gain on the sale


Ex-AllStar
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