title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Saturday, January 21, 2006
 
Set Up Exchange Beforehand

Q:

Subject: Exchange Question
 
If an exchange was declined at closing of escrow and the property has been sold, can the seller still decide to purchase a home, invest the money into a new property and still get tax even though an exchange was not established?

A:

The answer is no.

The exchange has to be set up before the sale leg closes.  It is also critical that you never touch the money. 

Kerry Kerstetter

 



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