A new procedure from the IRS provides safe harbors for for §1031 "tax deferred exchange" of a vacation and second homes. Effective March 10, 2008, IRS Revenue Procedure 2008-16 provides guidelines for the qualifications that a taxpayer and vacation or second home owner must meet to consider a §1031 tax deferred exchange.
Click this link for IPX1031's explanation of this new strategy. http://ipx1031.com/pdf/DoVacation&SecondHomesQualify.pdf
Click for OREXCO's email announcement about this new strategy.
Tax Subjects Posted
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2008
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March
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- Special Exemption of Capital Gains Tax
- Effective March 10, 2008 §1031 2008-16 Guidelines ...
- Investment Property Exchange Services Inc.'s Summa...
- Qualified Exchange Intermediaries.
- OREXCO Vacation Home Announcement Email
- FAQs Common Questions on §1031 Topics.
- Contact Naomi Toyooka R (808)227-1479
- Picture Diagram of Basic 1031 Exchange Possibilites.
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March
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Monday, March 10, 2008
Effective March 10, 2008 §1031 2008-16 Guidelines for Exchanging Vacation Homes.
Posted by Rick Nakama, REALTOR GRI www.RickNakama.com at 5:44 PM
Labels: 1031 exchange, 2nd homes, vacation homes
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