1031 exchange: What effect will the new 1031 ruling have on vacation rentals? - 03/01/08 09:45 PM
The IRS recently issued a ruling that will force second home owners to rent their properties if they want to sell and do a 1031 tax deferred exchange into another property. With two years of rentals and only 14 days or less of owner use per year, they will be able … (16 comments)
1031 exchange: Second home owners could be affected negatively by the new Debt Relief Act - 10/13/07 10:04 PM
On Friday the House passed the Mortgage Forgiveness Debt Relief Act by an overwhelming majority. The goal of the bill is to help people who sell their homes in a short sale. A short sale occurs when the house is sold for less than what is owed on the mortgage and the balance due is forgiven … (30 comments)
1031 exchange: 6 Rules for 1031 tax deferred exchanges - 09/22/07 12:46 AM
An AR friend called me today asking about 1031 exchanges. She knew that we do a lot of them as we are in an area with a lot of rental properties. Her call reminded me that I had written a couple of posts about them on my outside blog, and thought … (30 comments)
1031 exchange: Tax court rules against 1031 exchange treatment for some vacation homes - 06/01/07 10:49 PM
On Wednesday, May 30, 2007, the US Tax Court handed down a ruling on the appeal by a Georgia couple to allow the sale of their vacation home to qualify for treatment under the rules of IRS Section 1031, Tax Deferred Exchange. The court found that "the holding of any residence, even if motivated … (17 comments)
The Colorado mountains, real estate, ski resorts, lifestyle and vacation homes is my focus. We talk about buying and selling ski condos in Breckenridge, Keystone and Copper Mountain. Homes and land in Frisco, Dillon and Silverthorne are also in our market area
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.
The IRS recently issued a ruling that will force second home owners to rent their properties if they want to sell and do a 1031 tax deferred exchange into another property. With two years of rentals and only 14 days or less of owner use per year, they will be able … (16 comments)
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