Legal Question in Tax Law in California
Tax Deferred Exchange
My family owns stock in a privately held company (a bank). We are going to sell the stock and reinvest the proceeds. We are familiar with tax deferred exchanges for real and business property. Is there such a provision for the sale of stock?
Asked on 2/25/02, 1:23 pm
1 Answer from Attorneys
Ken Koenen
Koenen & Tokunaga, P.C.
Re: Tax Deferred Exchange
Sorry. The IRS is not so friendly with stock as they are with real property. You will pay taxes on any gain.
Answered on 2/25/02, 1:35 pm
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