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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: John Pitera who wrote (2611)11/27/2017 12:01:07 PM
From: Riskmgmt  Read Replies (1) of 2722
 
John,
Been in the real estate biz a long time, owned income units in Texas and some other States and I don’t know of any tax law that would require you to sell or intend to sell. Just the opposite with 1031 actually, if you don’t follow the exchange requirements and have access to the proceeds it can be challenged by IRS and if deemed a “sale” they will demand capital gains tax be paid.

With Trust Estate it is important to talk to the trustee, who could be a lawyer, or banker and convey your interest in a purchase. If listed by a real estate broker he/she would be the one to talk to about an offer.

Good luck.

R.
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