Journal Issue:
Agricultural Law Digest: Volume 19, Issue 4
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The long-awaited guidance on whether vacation properties which are rented out but are also occupied by the owner for personal use are eligible for like-kind exchange treatment1 was released on February 14, 2008.2 The guidance, in the form of a safe harbor, provides useful guidance in an area that has posed troubling questions for taxpayers (and tax practitioners) for years.
The long-awaited guidance on whether vacation properties which are rented out but are also occupied by the owner for personal use are eligible for like-kind exchange treatment1 was released on February 14, 2008.2 The guidance, in the form of a safe harbor, provides useful guidance in an area that has posed troubling questions for taxpayers (and tax practitioners) for years.
The long-awaited guidance on whether vacation properties which are rented out but are also occupied by the owner for personal use are eligible for like-kind exchange treatment1 was released on February 14, 2008.2 The guidance, in the form of a safe harbor, provides useful guidance in an area that has posed troubling questions for taxpayers (and tax practitioners) for years.