A colleague in Vail just sent me a great summary of a recent IRS ruling regarding Section 1031 exchanges for second homes. The piece addresses the question of under what circumstances could you treat your second home as an investment property, and thus exchange it for a new investment property, including, potentially, a new second home.
Email me (Kennedy@MaureenKennedy.Net) if you'd like a copy. And don't forget, I've built a network of colleagues who practice in a number of near and far vacation destinations, so check with me before taking steps to buy a vacation home!
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