After patiently listening to all my schemes, he just looked at me and said “just pay the damn taxes. The rates are low. You got a good gain. Just pay them and move on with your life.”
So I did, and never looked back. And now whenever I’m faced with that situation again I just tell myself “just pay the damn taxes.”
Good advice. And will keep you out of jail.
@Berryhillj Not worth it. I remember years ago got a solid price of advice from my accountant on stuff like this. I had some profit in a real estate deal and was twisting and turning my life to avoid paying the cap gain on it. 1031, shifting money, etc…