Google Answers: tax free exchanges

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Q: tax free exchanges ( No Answer, 1 Comment )

Question

Subject: tax free exchanges
Category: Business and Money
Asked by: wgfp-ga
List Price: $100.00

Posted: 08 Aug 2005 18:44 PDT
Expires: 07 Sep 2005 18:44 PDT
Question ID: 553342

A Sub-Chapter S corporation sells its land and buildings. In lieu of
taking cash for the sale, can it take "life settlement" insurance
policies instead and qualify for a tax-free exchange?

Answer

There is no answer at this time.

Comments

Subject: Re: tax free exchanges
From: shishirshah-ga on 09 Aug 2005 00:42 PDT

No.Its a direct sale and one can not take a life settlement insurance
policies in lieu of taking cash. Insurance policies are not subject to
exchange trade.

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