Hi. I sold fore acres of my come to rest ,how ken i avoid paying TAX, ken i invest it in a IRA ore Mutual fund ??
Answers:
You will own levy due on the difference between the purchase price (adjusted for cost of public sale and improvements) and the public sale price. Depending on how long you owned the domain that gain will be tax at any your universal income rate or a possessions gain rate of 5 or 15% (depending on your dreary rate). Reinvesting the gain will hold no effect on the toll you might owe. The solitary TRUE means of access to lower your rates is to build sure that you own taken plus of adjectives available adjustment to the principle. You should hold a import tax professional insist on you on those adjustment.
Investing the money will not facilitate you avoid the tariff.
You call for to income the rates on the money.