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stephanie-cuttle
New Member

How long do we have to reinvest vacant land sale proceeds before reporting as capital gain?

 
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Critter
Level 15

How long do we have to reinvest vacant land sale proceeds before reporting as capital gain?

If you have touched the check then it is too late already ... a 1031 exchange had to be set up prior to the sale with a third party who would hold the proceeds in trust until the next property could be purchased. 

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Critter
Level 15

How long do we have to reinvest vacant land sale proceeds before reporting as capital gain?

If you have touched the check then it is too late already ... a 1031 exchange had to be set up prior to the sale with a third party who would hold the proceeds in trust until the next property could be purchased. 

View solution in original post

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