Tag: Income Tax
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Selling a vacation home that’s gone up in value? A Section 1031 exchange is one way to avoid a tax hit
Say you own a highly-appreciated vacation home that you’re ready to unload for whatever reason. If you simply sell it, you could face a whopping big income tax bill. See my earlier column on that unfortunate outcome. Ugh. But if you’re still bullish on real estate and not a fan of paying taxes unnecessarily, you ...