roll over property

[nika9801]

What is the name of your state? minnesota

my hunsband owns 1/7 of many acres. his brother may be buying his share from him. can my husband avoid paying capital gain tax if he purchases different land soon after? if so, how many days do you have? any suggestions on how to do this or to save on tax?

 

[JETX]

"can my husband avoid paying capital gain tax if he purchases different land soon after? if so, how many days do you have?"
*** According to IRS Publication 544 (Sales and Other Dispositions of Assets), no.
Go to:
http://www.irs.gov/publications/p544/ch01.html#d0e446