Capitol gain on rental property. I sold a rental property in 2018. I plan on purchasing a new rental property in 2019. Can I avoid reporting the capitol gain in 2018?
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Capitol gain on rental property. I sold a rental property in 2018. I plan on purchasing a new rental property in 2019. Can I avoid reporting the capitol gain in 2018?
Capitol gain on rental property. I sold a rental property in 2018. I plan on purchasing a new rental property in 2019. Can I avoid reporting the capitol gain in 2018?
No, you can't. Unless you did a 1031 exchange, which is a complex process that you would have been aware of, these are independent transactions. Sold in 2018, reported in 2018.