| selling land for huge amount of money |
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drag182
First Time Poster
Cash: $ 0.25
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Joined: 27 Jan 2006
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| selling land for huge amount of money |
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My father is selling some land for a huge amount of money. This is land that my dad has owned for 40 years. Obviously we want to reinvest this money and shelter it from taxes. I am assuming a 1031exchange would be the smart thing to do??? What do you think??? what other options are there????????
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Fri Jan 27, 2006 4:52 am |
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bkmed
New Member
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Joined: 27 Jan 2006
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Sounds good, and that 1031 exchange is possibly the best thing to do if you are looking to reinvest in something without paying taxes. But I believe you need to invest in something that has more value that your property.
Maybe someone else can further explain.
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Fri Jan 27, 2006 11:48 pm |
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