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Are second homes and vacation homes eligible for 1031 exchanges?

April 26, 2017eligible exchanges homes vacation

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Are second homes and vacation homes eligible for 1031 exchanges?

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Until very recently, this question was one of the most widely disagreed upon by 1031 exchange experts. The IRS Revenue Procedure 2008-16 now provides guidelines for determining whether a second or vacation home qualifies as a business or investment property. For the full text of Revenue Procedure 2008-16 follow the below link: http://www.natptax.com/rp200816.