I am still a big dumbass..... again..

schmalts

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Aug 22, 2002
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WI
anyone ever hear of something called a reverse starker???? I didnt and it cost me a lot of Tax money when i sold my old hunting land for my new land...... like 14k worth
 

Oak

Expert
Joined
Dec 23, 2000
Messages
14,291
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Colorado
I'm not sure, but I think it has something to do with acquiring your new property within a certain time period after selling your old property? There's a tax deferral or something if it's done within the time period.

Oak
 

schmalts

Well-known member
Joined
Aug 22, 2002
Messages
9,127
Location
WI
correct, or you can do it the other way too, get your new one before you sell your old one like i did. Heres where i messed up, you cannot actually close and take the title of your new property. instead you have a title company hold it in escrow until you sell your old property. well i closed on my new property already...dumbass move.
 

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