Legal Question in Tax Law in Wisconsin

Investing in education to avoid some capital gains tax

My parents sold there summer vacation home and are facing high capital gains taxes from that transaction. Can they put money away for their grandchildren's education that will help them reduce the amount of tax they will have to pay?


Asked on 11/16/06, 2:19 pm

1 Answer from Attorneys
Mark Mahoney Cassiani Law Office, Wise Shepherd Law Office

Re: Investing in education to avoid some capital gains tax

Hello,

There is no way now to avoid the gains as the property has been sold. However, there are some good methods to put money away for education that have significant tax advantages. Let me know if you would like more information.

Best wishes,

Mark J. Mahoney

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Answered on 11/17/06, 12:57 am


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