Captial Gains Tax On Tax Deeds?
Hello to all...I am wondering if capital gains tax can be avoided IF...I buy a property at a tax deed auction, sell it and use the profits to buy more tax deed props...?
What do you guys think...or should I go to the tax forum...lol
Thanks
[addsig]
1031 Exchange would work as long as your intent is to hold for investment and not hold for sale (flipping). See article at: http://www.thecreativeinvestor.com/commercial/modules.php?name=Articles&file=article&articleid=572
[addsig]
Go to your local county government complex, find the tax commisioner office and ask someone "Can anyone help me how to find "residential" tax liens certs?"
Someone will be happy to assist you, this is the best way, otherwise you just gonna end up paying for the same info they give you.
You can go to the office that collects for the property taxes and ask when the next tax sale is, and do they have any liens that have not been picked up sometimes that process is a lot faster