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after selling a rental proprety do I have to buy another proprety or can I pay off my own house

After selling my commercial residential proprety do I have to buy another residential proprety or can I pay off my own House
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December 30 2010 - Harrison
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Speak to a tax attorney or your accountant regarding your liability of your capital tax gains.

Happy New Year!
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January 01 2011
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Are you asking because of capital gains?   If you roll the money into another rental property, you probably won't owe capital gains at this time (see 1031 exchanges on the www.irs.gov website).   If you put the money to pay off your personal residence (or anything else other than rolling into a similar property) , you may owe capital gains.    Please consult with a tax professional for the details and confirmation.

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December 30 2010

You need to talk to a tax professional.  You may owe capital gains on the sale of your investment.

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December 30 2010
 
Related Questions
after selling a rental proprety do I have to buy another proprety or can I pay off my own house
Profile picture for Travis Waller
Latest answer by Travis Waller
January 01 2011 | 3 answers
  • Asked by jorginho003
  • In Rentals
  • December 30 2010
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