Updated about 5 years ago on . Most recent reply
how to avoid taxes when selling secondary home
My parents are closing on the sale of their secondary home in a couple weeks. They will definitely have some taxes to pay. They own in free and clear. Is there a way for them to reinvest that money into an investment property to avoid paying any taxes? I know the 1031 exchange won't work because they never used it as an investment property. Thanks for the help!