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…
Category: Involuntary Conversion
Involuntary Conversion
Learn how the tax code treats involuntary conversions and how to deal with any resulting tax consequences. Our experienced tax attorneys can help you navigate this complex area of tax law. Give us a call to see how we can help, (713) 909-4906.