Do I get around the capital gains taxes with the real estate investment? 2 Answers as of March 04, 2011
I had acquired an annuity payment upon my parents passing. I invested some of the amount into real estate. Do I get around the capital gains taxes with the real estate investment?
David Hoines Law
| David Hoines
No, any gain is the sales price down the road minus your purchase price.
Answer Applies to: Florida
Meyer & Yee, LLP
| Kent W. Meyer
No-any gain on property you purchase with inherited income will be taxed to you.
Answer Applies to: California
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