To pay capital gains tax this year or...
...hold off for a bit. I'll owe about 50k in taxes from a 2015 family trust real estate sale. It was a commercial building and 1030 exchange will not work. I need 50k to finish building my home. My question is.. Can I delay or work out payment plan with irs to repay amount or is this ill advised? So, I have 50k in hand, Do I pay for construction costs with 50k I've set aside for impending tax debt or pay tax and apply for loan with bank.
Thank you for thoughts and opinions.