@gokat1162 wrote:
How can I avoid capital gains on land I am about to sell?
Assuming this property was held for investment and not for personal use -
The only way to postpone the capital gains on land sale is if you do a like kind exchange for a similar investment property. If that is not feasible for you then you will have to report the gains on the sale on your tax return in the year of the sale and pay the capital gains tax.
Go to this IRS website for section 1031 like kind exchanges - https://www.irs.gov/businesses/small-businesses-self-employed/like-kind-exchanges-real-estate-tax-ti...
Also see this website for like-kind exchange rules - https://www.investopedia.com/financial-edge/0110/10-things-to-know-about-1031-exchanges.aspx
