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The Pantagraph from Bloomington, Illinois · Page 15 Publication: The Pantagraph i Location: Bloomington, Illinois Issue Date: Friday, March 5, 1948
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WASHINGTON — Whenever you sell business or investment property and you have a gain, you generally have to pay tax on the gain at the time of sale. IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar property as part of a.
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