What types of property transactions could be nontaxable
The general rule for recognizing gains from the sale of property will result in capital gains treatment. However, there are several property type transactions that will result in nontaxable treatment.
The six types of transactions that may result in nontaxable treatment consist of: Involuntary conversions, sale of principal residence, like-kind exchanges, installment sales, divorce property settlements, and the sale of capital and treasury stock.
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