Vacation home safe harbor
Also called: Rev. Proc. 2008-16 · dwelling unit safe harbor · second home 1031
An IRS safe harbor addressing when certain dwelling units can be treated as held for investment for Section 1031 purposes.
What it means in practice.
Rev. Proc. 2008-16 provides qualifying-use standards for certain relinquished and replacement dwelling units, including ownership, rental and personal-use conditions.
Why it matters.
A vacation home is not automatically exchange-eligible; use patterns and documentation matter.
Additional notes.
Rev. Proc. 2008-16 provides qualifying-use standards for certain relinquished and replacement dwelling units, including ownership, rental and personal-use conditions.
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