Using the gain from selling a business to buy real estate, can that be use to avoid paying taxes?

[Tucsonpremium]

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.

[IRonMaN · Accepted solution]

Nope

[dascpa]

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

[sjrcpa]

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