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| *Loan,banking and credit>>>deferred tax |
Can taxes be deferred for sale of real estate in a trust until proceeds distributed to owner at a later time? |
Can taxes be deferred for sale of real estate in a trust until proceeds distributed to owner at a later time? No, the Trust would be responsible for paying the capital gains tax on the gain realized by the Trust upon the sale of the property, in the year of sale Actually there are certain Grantor Trusts that will allow the seller to defer paying capital gains taxes for up to 20 years. If interested, go to: http://www.mydstplan.com/usa or http://www.gotexit.net/rlara The closest that you can come is with a 1031 exchange. See irs.gov for details. |
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