Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

Set Up Exchange Beforehand

Posted by taxguru on January 21, 2006


Subject: Exchange Question
If an exchange was declined at closing of escrow and the property has been sold, can the seller still decide to purchase a home, invest the money into a new property and still get tax even though an exchange was not established?


The answer is no.

The exchange has to be set up before the sale leg closes.  It is also critical that you never touch the money. 

Kerry Kerstetter


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