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?

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David Hoines Law
David Hoines Law | David Hoines
No, any gain is the sales price down the road minus your purchase price.
Answer Applies to: Florida
Replied: 3/4/2011
Meyer & Yee, LLP
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
Replied: 2/27/2011
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