What does "Acquire home in like kind exchange" mean?
We bought a house in June, 2013. We sold the house in August, 2016.
011589
1 Best answer
KarenL2
Level 5
Jun 5, 2019 11:02:35 PM
This usually applies to investment or rental properties. It's a method of deferring potential capital gains by investing the proceeds into other qualified "like-kind" properties. If this is your primary residence that you purchased without transferring proceeds from an investment property, it doesn't apply to you.
This usually applies to investment or rental properties. It's a method of deferring potential capital gains by investing the proceeds into other qualified "like-kind" properties. If this is your primary residence that you purchased without transferring proceeds from an investment property, it doesn't apply to you.