Real estate blog entries tagged with 1031 exchange by Howard Barnes (Connect Realty.com)

Channels
Consumer
Professional
States
USA
- AL
- AK
- AZ
- AR
- CA
- CO
- CT
- DE
- DC
- FL
- GA
- HI
- ID
- IL
- IN
- IA
- KS
- KY
- LA
- ME
- MD
- MA
- MI
- MN
- MS
- MO
- MT
- NE
- NV
- NH
- NJ
- NM
- NY
- NC
- ND
- OH
- OK
- OR
- PA
- RI
- SC
- SD
- TN
- TX
- VI
- UT
- VT
- VA
- WA
- WV
- WI
- WY
Canada
- AB
- BC
- MB
- NB
- NL
- NT
- NS
- NU
- ON
- PE
- QC
- SK
- YN

Home : Blogs : Howard Barnes : Howard's Blog : Tag "1031 exchange"

1031 exchange: Vacation home never put for rent or sale not like-kind property for 1031 Exchanges - 09/28/08 12:23 PM

A taxpayer purchased a vacation home as an investment with the hope it would appreciate in value and be sold at a profit. The taxpayer then sold the vacation home and purchased another vacation home as an investment property with the proceeds of the sale.
The properties were never rented or put up for sale and no mortgage interest, maintenance, or other expenses were listed as deductions on their income tax return.
The taxpayer reported the profit on the sale of the first vacation home as tax exempt under §1031 due to the sale and acquisition of like-kind properties.
The IRS claimed the sale … (0 comments)

Related Links:

Howard Barnes

Huntington Beach, CA

More about me…

Connect Realty.com

Address: 18682 Beach Blvd, #165, Huntington Beach, CA, 92648

Office Phone: (714) 960-1544

Email Me

Huntington Beach Real Estate, Fountain Valley real estate, Orange County Real Estate, and California real estate

Links

Archives

Find CA real estate agents and Huntington Beach real estate on ActiveRain.

Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.