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MequonCPA
MequonCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2342
Experience:  CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.
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Why are State Capital Gains Taxes deferred in a Like Kind Exchange

Resolved Question:

Why are State Capital Gains Taxes deferred in a Like Kind Exchange Transaction?
Submitted: 8 years ago.
Category: Tax
Expert:  MequonCPA replied 8 years ago.

DearCustomer-

 

The gain is deferred for state purposes because California follows the federal reporting of this type of transaction. See link below.

 

http://www.ftb.ca.gov/law/ccr/20000717.pdf

 

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