09-13-2004, 08:41 PM
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 Re: A couple of 1031 questions "RealEstBk" <realestbk[at]aol.com> wrote: - quote - > 1) can I do a 1031 exchange from a vacation home (used by me
I don't think there is a firm answer on this in general but> about 20% of the time and rented the rest of the time) to > either another vacation home or a regular rental property? specifically you cannot swap for another vacation home. - quote - > 2) I bought a lot on which I want to build a house. Can I do
No. You have to swap for existing property you don't> a 1031 exchange from my current rental property in another > location to the building of the house which I would then > rent out? already own. You already own the lot, you would also own any home built on the lot. -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
09-11-2004, 03:04 AM
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| A couple of 1031 questions 1) can I do a 1031 exchange from a vacation home (used by me about 20% of the time and rented the rest of the time) to either another vacation home or a regular rental property? 2) I bought a lot on which I want to build a house. Can I do a 1031 exchange from my current rental property in another location to the building of the house which I would then rent out? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| 1031, couple, questions |
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