Hello Everyone, We had a rental property burn down-total loss. Insurance payment exceeded basis. I have heard conflicting information on how to offset the gain-anyone with expertise on 1033s questions below? -I first understood that you could reinvest the gain in like property as an…
My question is about a rental property, if the homeowner chooses to buy a replacement property instead of rebuild. What is the tax consequence if the homeowner is not able to sell the land (where the fire disaster was) before the expiration of the replacement…
