does idaho have capital gains tax on real estate
After a real estate market that grew stagnant in 2020 due to the COVID-19 pandemic a real estate surge has been happening in 2021 in many parts of the. If allowed to stand the measure would levy a 7 capital gains tax on income above 250000 per year from the sale of stocks and bonds.
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The new law which is being fought in court began Jan.
. Real estate investors can defer paying capital gains taxes using Section 1031 of the tax code which lets them sell a rental property while purchasing a like-kind property and pay taxes only after. The move came a few months before a new capital gains tax in Washington state took effect.
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