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TAX FREE EXCHANGE
You can sell your present investment property at a profit, pay the capital gains tax, and re-invest what you have left into a larger property. This could be an unnecessary loss of cash. There is another way to accomplish the same result without paying the tax on the profit. It is called a “tax-free exchange”. It could be of special importance if your present property has _ already seen much tax depreciation over the years.
To qualify for a tax-free exchange, both properties must be held for “productive use in business or for investment" and must be of a “like kind”, but most real property held for
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