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Tag Archives: Second Home

Can you do a sec 1031 exchange with your second residence?

Monday, February 28, 2011

Your second residence is considered just like your first residence. It is classified as Real Estate held for personal use, which is NOT considered a like-kind property and thereby does NOT quality for 1031 Exchange treatment. If you treat your second residence as a vacation rental there is potential for getting 1031 Exchange treatment, though [...]

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How do we 1031 Exchange our vacation home?

Tuesday, January 18, 2011

Vacation homes or your second home are tricky when it comes to 1031 Exchange. If they are not held as a rental they are classified as real estate held for personal use which does not qualify for 1031 Exchange. However, under the rules of ยง280, a dwelling unit held for both personal use and rental [...]

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