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Level 1
posted Jun 26, 2024 11:24:34 AM

Are there any ways to avoid capItal gains taxes for a stock sale that will be immediately reinvested in CDs or an annuity?

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2 Replies
Employee Tax Expert
Jun 26, 2024 11:28:17 AM

Unfortunately no.   However; you’ll want to know how to avoid capital gains tax to keep more of your money working for you. Read on to learn more about how to avoid capital gains tax on property and stocks.

 

How to avoid capital gains 

Employee Tax Expert
Jun 26, 2024 11:33:06 AM

No, You will have to pay Capital gain tax on sale of stock even if you re-invest in CDs or annuity. There are no like-kind exchange rules in the ordinary sales of stock which would defer the taxability of your gain to some future period.

@RangerDan Thanks for attending the event!!