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Updated over 11 years ago on . Most recent reply
Buying Property This Year, Selling Stocks for Down Payment Next Year?
I am seeking any ideas for how to defer my tax liability for selling stocks in order to make a down payment. I have found a property that looks good and I would like to buy.
I have already sold stocks for the downpayment for a rental property I bought earlier this year. Selling another chunk of stocks this year will push my taxes a little higher than I can tolerate.
What methods could I use to put a down payment on the property this year, but sell the stocks next year? I am not sure that I have a source for a private hard money loan; there's some possibility but I am not counting on it. Obviously I am a pretty safe bet since I can prove I have the cash to pay off the loan at any time, and just want the money for a few months. But the interest has to be significantly lower than the amount of money I would pay on taxes or else it wouldn't make sense to get a loan.
Any thoughts? Thank you in advance!