Exchanging Your Vacation Home via Section 1031

Summer is finally here, and the living is easy. Especially if you are enjoying time at your second home. But if you’ve decided that this might be the last summer spent at your favorite escape destination, you might be wondering how to minimize the tax implications of selling your current vacation home.

Utilizing a #1031 exchange to move from one vacation home to another, maybe in a different city or state, is a great idea. It allows you defer capital gains taxes on the transactions, freeing up more money for reinvesting in the next property.

Read on for a great explanation from Market Watch on how to accomplish this. You’ll be enjoying a new vacation destination in no time.

If you’re considering a 1031 exchange, please visit our website to learn more about the exchange process, our qualified intermediary services and how we can help you find and close on your next 1031 exchange property.