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Article Date:
August 2007

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1031 Exchange of Vacation Homes Fails

You can use the 1031 exchange to defer taxes when you exchange one rental property for another. Specific rules apply when determining whether a vacation home is a personal residence or a rental property. If the property is a personal residence, no tax-deferred exchange is available.


Barry Moore contended that his properties were not homes but simply properties held for investment. Under the vacation-home rules, the court treated Moore’s vacation homes as personal residences for a variety of reasons, including these:1



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