I currently own an investment property in Florida and I am looking to sell it. I bought it in 5/2004. I currently rent an apartment in San Francisco and so the only property that I own is that one in Florida.

I’m aware of a capital gains tax that you must pay any time you sell an investment property. What I’d like to do is avoid paying this tax if possible. I’ve heard that because it is my only property, it does not qualify as an investment property and so I wouldn’t have to pay this capital gains tax.

Is this true?

Ihave sold my property & obtain cheque from buyer.If I want to invest this money do I need to pay any taxes to the Govt of india or again I have to buy property to avoid taxes.?

I am using the profit to build a garage on my primary residence, can I use this to offset the capital gains tax on the 2 nd home I sold? I never lived in the 2nd home, it was a lake house. Also I had to give 1/2 of the profit to my father because he helped pay for the property, but the deed was in my name only.

i live in oz and am looking at housing in certain countries going thru the economic crisis.my theory is that i can buy houses cheap and then rent out at a smaller price as the exchange rate is so good these days.how would i go about doing so and would i have to pay taxes in my country on an investment property or in the country the house is in?

I want to sell my income property and I want to know if there is a time limit to pay taxes on the gains, or I have to pay the taxes once I get the money. I want to invest in something else but I don’t really know what ,so I wanted some time to think about it and that’s why I wanted to know if there is a time limit. Can somebody help me? Thanks