rental income property: Capital Gains Taxes and Recapture - Do they just go away?
- 06/22/10 09:29 AM
Today I spoke with an Investor who is facing the realities of today's real estate market. This investor has owned rental income property for the last 20 years. Having completed one 1031 Exchange into the property currently owned, the question that was posed was: I was told that the taxes just go away after a certain amount of time, is that true? I had to tell the Investor that although the real estate market has been in a downturn the IRS expects any deferred taxes and depreciation recapture to be paid upon the sale the rental income investment property. I explained … (2 comments)
Today I spoke with an Investor who is facing the realities of today's real estate market. This investor has owned rental income property for the last 20 years. Having completed one 1031 Exchange into the property currently owned, the question that was posed was: I was told that the taxes just go away after a certain amount of time, is that true? 
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