{"id":359,"date":"2017-01-16T02:37:38","date_gmt":"2017-01-16T02:37:38","guid":{"rendered":"https:\/\/0c8fb60.netsolhost.com\/en\/?p=359"},"modified":"2022-11-16T03:29:57","modified_gmt":"2022-11-16T03:29:57","slug":"284-exchange-not-sale-to-defer-tax","status":"publish","type":"post","link":"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/income-tax\/284-exchange-not-sale-to-defer-tax\/","title":{"rendered":"Exchange &#8211; not Sale to defer tax"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">SUMMARY OF IRS LINK&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href=\"https:\/\/www.irs.gov\/uac\/like-kind-exchanges-under-irc-code-section-1031\">https:\/\/www.irs.gov\/uac\/like-kind-exchanges-under-irc-code-section-1031<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You cannot sell ANYTHING and defer taxes\u2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can EXCHANGE (<em>qualified intermediary is hired.. you don\u2019t get your hands on the money<\/em>)\u2026 subsequent property is identified within 45 days\u2026 and have a total of six months from sale date to purchase like kind property.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When the exchange is done, if you received boot (<em>money, cars, debt forgiveness in excess of debt assumed<\/em>), then you are taxed on a part of the boot.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The old rules of selling a primary and reinvesting the proceeds in a home of equal or greater value are gone.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">AND, it did not apply to a vacation home anyway, only a primary.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SUMMARY OF IRS LINK&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;https:\/\/www.irs.gov\/uac\/like-kind-exchanges-under-irc-code-section-1031 You cannot sell ANYTHING and defer taxes\u2026 You can EXCHANGE (qualified intermediary is hired.. you don\u2019t get your hands on the money)\u2026 subsequent property is identified within 45 days\u2026 and have a total of six months from sale date to purchase like kind property. When the exchange is done, if you [&#8230;]<\/p>\n<p><a class=\"understrap-read-more-link\" href=\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/income-tax\/284-exchange-not-sale-to-defer-tax\/\">Read More&#8230;<span class=\"screen-reader-text\"> from Exchange &#8211; not Sale to defer tax<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-359","post","type-post","status-publish","format-standard","hentry","category-income-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Exchange - not Sale to defer tax - USA Tax Help<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/income-tax\/284-exchange-not-sale-to-defer-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exchange - not Sale to defer tax - USA Tax Help\" \/>\n<meta property=\"og:description\" content=\"SUMMARY OF IRS LINK&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;https:\/\/www.irs.gov\/uac\/like-kind-exchanges-under-irc-code-section-1031 You cannot sell ANYTHING and defer taxes\u2026 You can EXCHANGE (qualified intermediary is hired.. you don\u2019t get your hands on the money)\u2026 subsequent property is identified within 45 days\u2026 and have a total of six months from sale date to purchase like kind property. When the exchange is done, if you [...]Read More... from Exchange &#8211; not Sale to defer tax\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/income-tax\/284-exchange-not-sale-to-defer-tax\/\" \/>\n<meta property=\"og:site_name\" content=\"USA Tax Help\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-16T02:37:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-16T03:29:57+00:00\" \/>\n<meta name=\"author\" content=\"LONYOUNG\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"LONYOUNG\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/income-tax\/284-exchange-not-sale-to-defer-tax\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.usataxhelp.com\/en\/our-tax-blog-at-wwwirstaxtalkcom\/income-tax\/284-exchange-not-sale-to-defer-tax\/\"},\"author\":{\"name\":\"LONYOUNG\",\"@id\":\"https:\/\/www.usataxhelp.com\/en\/#\/schema\/person\/42e3184ba509e75d345d3e43f1dff839\"},\"headline\":\"Exchange &#8211; 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