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Types of accommodation. Vacation rentals usually occur in privately owned vacation properties (holiday homes), so the variety of accommodation is broad and inconsistent. ... Read Article
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IRS Issues New Ruling on Vacation Homes and 1031 Exchanges The IRS just issued Revenue Procedure 2008-16, a new ruling that provides guidelines for taxpayers who want to do a 1031 exchange involving a vacation home. It appears the intent of the IRS was to clear up the ... Document Viewer
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Home exchange - Wikipedia, The Free Encyclopedia
Home exchange, also known as house swapping, is an alternative means of travel accommodation, through which two parties agree to swap their homes for a set period of time, with no monetary exchange taking place. Its origins stem from low-cost vacation accommodation and are believed to date back ... Read Article
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III. CONVERTING A VACATION HOME INTO AN INVESTMENT PROPERTY A property owner can prepare in advance for a potential Section 1031 exchange in the future by converting a ... View Document
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Do Vacation And Second Homes Qualify?
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NEW CHANGES TO IRC RULES ON VACATION-SECOND HOMES AND 1031 ...
NEW CHANGES TO IRC RULES ON VACATION-SECOND HOMES AND 1031 EXCHANGES By Stephen Wayner, vacation homes minimally used by taxpayers could qualify under Section 1031 for tax for a “like kind” exchange under Section 1031 or under the Section 1031 regulations.16 ... View This Document
An exchange of a vacation home may still qualify under §1031 even though it falls outside the parameters of Rev. Finally – IRS Guidance on Exchanging Vacation Homes Revenue Procedure 2008-16 Provides Safe Harbor YOUR SOURCE FOR UP-TO-DATE 1031 EXCHANGE NEWS Compliments of ... View Document
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