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Yes temporarily sure? But if you keep deferring can you really tell me what the tax laws will be 50 years from now? I don't think in 2068 if you finally decide
by whb07 9y ago
Yes temporarily sure? But if you keep deferring can you really tell me what the tax laws will be 50 years from now? I don't think in 2068 if you finally decide to sell and cash out the IRS will come with a list " Well on 2030: taxes were X%, again on 2035: taxes were Y%". They will just give you a bill for the present day tax system
- SeeDave 9y agoFrom my understanding, the issue is with the annual recurring property taxes which have a capped annual increase per Proposition 13. Thus, the "taxable value" of the homes pre-sale is a fraction of what it is post-sale, even after swapping for an identical home. This is not an IRS issue, so much as a county tax assessor issue.