Can one wait the 18 months before paying tax on the capital gain?

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Can one wait the 18 months before paying tax on the capital gain?

2007-02-05 19:32:42 · 2 answers · asked by gigi 1 in Business & Finance ➔ Taxes ➔ Other - Taxes

2 answers

No, you pay tax for the year the gain was realized. Any gainrealized etween Jan. 1st and Dec. 31st will have tax due for that year.
The best you could do would be about 15 and one-half months assuming you don't get into a penalty position. This would be a sale on Jan. 2nd and the payment of the related tax on Apr. 15th of the following year.

2007-02-05 22:29:34 · answer #1 · answered by waggy_33 6 · 0⤊ 0⤋

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2007-02-09 16:50:40 · answer #2 · answered by Anonymous · 0⤊ 0⤋