Post by Sapphire Capital on Aug 22, 2008 7:49:02 GMT 4
Like-Kind Exchanges of Personal-Use Residences
Bradley T. Borden
Washburn University - School of Law
Alex Hamrick
Wachovia Bank
Tax Notes, Vol. 119, No. 12, 2008
Abstract:
The law governing section 1031 exchanges of personal-use residences ranges from very explicit, in the case of principal residences, to very vague, in the case of mixed-use second homes. The law excludes from section 1031 nonrecognition exchanges of property used solely for personal use. The IRS has provided guidance regarding exchanges of mixed-use principal residences and has provided an all-or-nothing safe harbor with limited applicability for exchanges of mixed-use second homes. To complete the body of law governing exchanges of personal-use residences, this article suggests that the IRS should provide broader guidance for exchanges of mixed-use second homes.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1150899_code331512.pdf?abstractid=1148504&mirid=2
Bradley T. Borden
Washburn University - School of Law
Alex Hamrick
Wachovia Bank
Tax Notes, Vol. 119, No. 12, 2008
Abstract:
The law governing section 1031 exchanges of personal-use residences ranges from very explicit, in the case of principal residences, to very vague, in the case of mixed-use second homes. The law excludes from section 1031 nonrecognition exchanges of property used solely for personal use. The IRS has provided guidance regarding exchanges of mixed-use principal residences and has provided an all-or-nothing safe harbor with limited applicability for exchanges of mixed-use second homes. To complete the body of law governing exchanges of personal-use residences, this article suggests that the IRS should provide broader guidance for exchanges of mixed-use second homes.
papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1150899_code331512.pdf?abstractid=1148504&mirid=2