Tough Question On Personal Resident

15 yrs ago , I sold my home on 2 1/2 acres for 200 thousand and deferred taxes on the profit by buying a 16 acre plot and building on it. I now can sell for 850 thousand, if I divide the house from the property, as a developer is not interested in the house. I can make abt 80 thousand more this way , as apposed to selling as one ****Must Reach Senior Investor status before posting URL's***Y CPA IS NOT SURE, and is looking into any complications in deferring the 500 profit gain.
If I sell individually , house and 2 acres will bring 350 and land 500...
If I sell as one peice...750 to 780

any advice is greatly appreciated, to backup my cpa's opinion

Comments(1)

  • wexeter6th August, 2003

    We just finished research this area for one of our 1031 exchange clients. Email me your fax number and I will fax a copy of what we found to you early next week.
    [addsig]

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