Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: babygene
Yep:

It is called an Involuntary Conversion (http://www.law.cornell.edu/uscode/text/26/1033)

There are a couple of assumptions; the big one being that Stirling converts the sale into some other enterprise that is “similar or related in use”. I'm not aware of Sterling's specific business structure but I assume that he has tax lawyers at his disposal that could make sure he complies.

Even in the worse case, it would be treated as capital gains, not regular income.

26 posted on 05/29/2014 4:05:04 PM PDT by taxcontrol
[ Post Reply | Private Reply | To 21 | View Replies ]


To: taxcontrol

Thanks.


38 posted on 05/29/2014 4:55:15 PM PDT by nickcarraway
[ Post Reply | Private Reply | To 26 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson