New 1031 Exchange Guidelines Affecting Vacation Homes
In a real estate market, such as Truckee and Lake Tahoe, where the vast majority of owners are investors or vacation homeowners, 1031 exchanges are a common part of a transaction. Until recently the IRS was very vague in defining “investment property” so many people performed exchanges even on properties which they had never rented [...]
Wednesday, March 26, 2008
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