Like-Kind Exchange Lets You Defer Tax Series Number: occ.

From: The Washington Post | Date: February 27, 1993| Author: | Copyright information

Seventh in a series of articles

Many years ago, you purchased property for investment at a cost of $100,000. It has been a good investment, not only providing rental income but, until 1986, giving you significant paper write-offs by way of depreciation. The property is now worth $300,000, but your basis for tax purposes, after deducting depreciation, is $60,000.

You believe the property has appreciated to its maximum, and want to sell it and obtain another investment property. If you were to sell it for $300,000, your profit for tax purposes (eliminating for this discussion any selling ...

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