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A taxpayer can generally avoid paying income tax on gain from the sale of property if the sale is an involuntary conversion. This typically involves a government act that takes or destroys the taxpayer’s property. There are a number of different types of property and takings that can qualify? But what about a local TV […]
The post Voluntary Sale In Advance of Forced Auction an Involuntary Conversion? appeared first on Houston Tax Attorneys: Kreig Mitchell.