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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 16, 1969
Page
7
Tax rules for selling a home with a profit offer deferral if a more expensive replacement is bought. Replacement home must cost at least the adjusted sale price and be purchased within one year before or after the sale. Building a replacement home requires additional conditions.
An investor guide explains how to compute adjusted sale price after fixing up and selling expenses, then shows how to calculate adjusted cost basis for a replacement home. The piece covers deferring taxes on gains and outlines steps for multiple upgrading sales with eventual tax advantages.
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