The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Capital Gains...||Date: 5/11/2005 10:53 PM|
|Author: comptche||Number: 79259 of 121114|
Sell a rental for a rental, then move in to the new rental...
Keep in mind that this intent violates the spirit of section 1031 exchanges. It's not been settled how long one must rent the new property for things to be hunky dory when the owner turns it into a personal residence.
Thanks for the warning... Hopefully, by the time I want to do this, it will all be decided so I won't get into trouble... This question would have been the next one that I asked, so I'll wait and ask you when the time comes...
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