CAN I MOVE INTO MY VACATION HOME WITHOUT JEOPARDIZING MY EXCHANGE?

Last month we discussed how the global pandemic and remote working have caused people to rethink where they want to live. As part of that trend, clients have been looking at more properties in vacation towns or remote areas with the hope of moving into them at some point. Can they use or move into these properties without jeopardizing their 1031 exchange?

The answer is – it depends.

UPCOMING WEBINARS:

Wednesday, November 18, 2020
Mark Fleming, First American Chief Economist

Thursday, November 19, 2020
Carmine DiFulvio, Senior Vice President
1031 EXCHANGES WITH VACATION AND SECOND HOMES - VIDEO

Clients often ask whether they can sell or buy a vacation home using a 1031 exchange. The answer depends on some factors, but with proper tax planning a tax-deferred exchange may be an option. Watch to learn more:
SUPPORT RETENTION OF 1031 EXCHANGES

Once again, IRC Section 1031 is in the news with discussions of potential repeal. To send a message to your elected representatives about the ways you, your business, and your community have benefited from IRC Section 1031 like-kind exchanges, click the button below.
YOUR TEAM OF 1031 EXCHANGE EXPERTS - 800.337.1031
CARMINE DIFULVIO, CES®
Certified Exchange Specialist®
Senior Vice President
SARAH LINDSAY, CES®
Certified Exchange Specialist®
Operations Manager
Senior Exchange Officer
MICHELLE MAUTZ
Exchange Officer
ALENE ALDANESE
Exchange Assistant
EDITH CUEVAS
Exchange Assistant
Please contact Carmine DiFulvio if you are interested in hosting a presentation or CE class on 1031 Exchanges for your group. He also offers presentations on Qualified Opportunity Zones and First American's newest offering, InvestEagle. Reach out for more information.
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