The Internal Revenue Service has finally issued guidance to help taxpayers understand when a vacation home or a second home may qualify for 1031 exchange treatment.
<b>Revenue Procedure 2008-16</b>
The IRS issued Revenue Procedure 2008-16 to help define when vacation property or second homes might be qualified use property and therefore qualify for tax-deferred exchange treatment under Section 1031 of the Internal Revenue Code. Visit http://www.exeter1031.com/1031_excha...e_2008_16.aspx for the actual Rev. Proc. 2008-16.
<b>Treasury Inspector General's Report</b>
This long awaited guidance regarding the 1031 exchange of vacation property and second homes was a direct result of the Inspector General's Report issued on Like Kind Exchanges last September. Visit http://www.exeter1031.com/news_treas...exchanges.aspx for the Inspector General's Report.
<b>1031 Exchanges of Vacation Property</b>
I've tried to pull all of the information together and write a comprehensive article on the requirements to 1031 exchange vacation homes or second homes. You can read the article here http://www.exeter1031.com/article_va..._property.aspx.
<b>Revenue Procedure 2008-16</b>
The IRS issued Revenue Procedure 2008-16 to help define when vacation property or second homes might be qualified use property and therefore qualify for tax-deferred exchange treatment under Section 1031 of the Internal Revenue Code. Visit http://www.exeter1031.com/1031_excha...e_2008_16.aspx for the actual Rev. Proc. 2008-16.
<b>Treasury Inspector General's Report</b>
This long awaited guidance regarding the 1031 exchange of vacation property and second homes was a direct result of the Inspector General's Report issued on Like Kind Exchanges last September. Visit http://www.exeter1031.com/news_treas...exchanges.aspx for the Inspector General's Report.
<b>1031 Exchanges of Vacation Property</b>
I've tried to pull all of the information together and write a comprehensive article on the requirements to 1031 exchange vacation homes or second homes. You can read the article here http://www.exeter1031.com/article_va..._property.aspx.