What the seller calls a capital gain, the buyer calls inflation. A lot of people like to discover new loopholes when they are preparing their tax return. That's what I call the river dredging method of tax planning. Trying to save taxes after the year is over is like trying to put toothpaste back in the tube. A lot more deductions have been lost for a lack of courage than for a lack of knowledge.
Taxpayers have a lot in common with turtles.
We both have to stick our neck out to get ahead. Those who attempt to reduce their taxes may not always succeed, but those don't will not. Those who are convinced they can't legally reduce their taxes will usually be right. The aggressive taxpayer follows the rule, When in doubt, deduct it . If the IRS pulls your number, you lose.