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Get your taxes done using TurboTax
Hi, @confusedtexas , thanks for the question! Unfortunately, no. The only way you can defer (not avoid) paying tax on this type of gain is through what's called a "like kind exchange". But unfortunately, land for a truck and trailer would not qualify. This article goes into more detail. Hope this helps, please let me know if not!
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‎September 27, 2023
10:46 AM