Posted by David Krulac on July 15, 2003 at 16:24:18:
the house is an investment property and not a personal residence, and you follow all the rules of the section 1031 IRS code for a tax free exchange.
Capitol Gain Reinvesting - Posted by Mike Clark
Posted by Mike Clark on July 15, 2003 at 15:45:43:
I want to sell 7 acres of land to build a new house. Since the house will cost more than the money I made off the land will I have to pay capitol gain taxes on the money made from the sale of the land?