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Updated almost 15 years ago on . Most recent reply

User Stats

369
Posts
75
Votes
Chris T.
  • Wholesaler
  • Amarillo, TX
75
Votes |
369
Posts

How to avoid Captial Gains Tax

Chris T.
  • Wholesaler
  • Amarillo, TX
Posted

Hello,

My brother is selling a home that he's owned for several years. It has been rented part of the time. Aside from his personal residence this is the only property he owns.
Does he have to pay long term capital gains tax on this? If so, is it 15% of sales price?

Also, how can he avoid paying it? 1031 like kind exchange?

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