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Contributor

i am selling a parcell of land. $200K. what can i do to protect frpm taxes

3 REPLIES

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@Jester11, thank you or reaching out. I will be happy to engage an account specialist to assist you, 

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Hello @jester11, this question would be better asked to a tax expert or accountant. They would be able to give you options on how to handle taxes owed for sale of property. Thank you!

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Howdy young man,   You can do a real estate exchange which means you have X amount of time to use the funds to purchase another property.  zero taxes.  As a professional to do it correctly.   As far as reducing your taxes after the fact.... may I suggest in the future finding out before the sale.... however, quality accredited investment professionals that provide advice on a fee basis should be able to tell you the current after the sale options.  If they are acredited by the IRS as well, it would be good.