Is there Deferred Sales Trust section 453?

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Answer is:

I'm in fact, 453 goes back to the 1920s. It was a part of what the government passed at that time to allow people to do what's called seller carry back or to carry paper and become a bank.

They had to figure out a way to enable and incentivize citizens to become the bank if need to. They wanted the private citizen to be the bank in case the banks are running out of money or the economy dips or falls.

They allow people to carryback, so the deferred sales trust foundation is section 453. That's how the deferred sales trust works.

 

 

Ultimately it's your asset to that ultimate buyer where the cash goes into. The cash is sitting in the trust and it owes you a hundred percent of what you sold it for.

That's a quick way of explaining how it works.

You can go to capitalgainstaxsolutions.com to learn more about that.

 

Watch on Video: https://www.youtube.com/watch?v=2HCkKroGeYY

 

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