1031 Exchange Eligibility Florida

Courts that have analyzed 1031 exchange eligibility of a property have generally concluded that the requirements are met if the property is held “primarily for investment.” In other words, if there is objective evidence that the taxpayer’s primary motive is to hold the property for investment, then limited use of the property by the taxpayer for personal enjoyment will not destroy the investment character of the property.

Local Companies

MainSail Realty Services, Inc.
561-745-6194
311 E. Indiantown Rd. - Ste 5A
Jupiter, FL
OrlandoBeautiful.com
407-257-8878
6375 San Lazaro Ct #104
Orlando, FL
Advantage Plus Re/Max
414-9996
7410 Boynton Beach Blvd., Ste. A1
Boynton Beach, FL
The Promenade
305-374-5455
333 S. Miami Ave., Ste. 150
Miami, FL
Attorney Title Services, Inc.
1-866-330-6233
111 North Belcher Road
Clearwater, FL
R&R Consulting, LLC
305 370-2616
912 sw 65 ave
miami, FL
Upscale Lifestyle Concierge Service
888-511-1887
PO Box 441154
Jacksonville, FL
Foxfire Realty
325-817-4813
615 East Silver Springs Blvd
Ocala, FL
The St. Joe Company
904-540-7776
3606 Windjammer Lane
St Augustine, FL
Luxury Homes Orlando
407-375-9915
PO Box 1114
Sanford, FL

1031 Exchange Eligibility

provided by:




Courts that have analyzed 1031 exchange eligibility of a property have generally concluded that the requirements are met if the property is held “primarily for investment.” Internal Revenue Code Section 1031(a) provides that:

"[n]o gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use in a trade or business or for investment" (emphasis added)

In other words, if there is objective evidence that the taxpayer’s primary motive is to hold the property for investment, then limited use of the property by the taxpayer for personal enjoyment will not destroy the investment character of the property.

 

Difficulties in determining intent

It is easy to frame the issue, but it is often difficult to determine whether the taxpayer’s investment intent dominates an intent to hold for personal use. This is especially true when the taxpayer holds a vacation property and uses it from time to time. The practical difficulty is compounded by the IRS's limited guidance concerning the requirements to prove that the property is held for investment. A recent Treasury Inspector General Audit report (“TIGA”) pertaining to the IRS’s enforcement of 1031 exchanges was critical of the IRS for its failure to provide guidance to taxpayers, thereby leaving unrebutted the claims of some promoters that vacation properties and second homes were generally eligible for exchange.

Click here to read the rest of the article.

NuWire Investor is an online publication that offers quality information about alternative investments such as real estate, commodities and franchises.

Author: Scott Saunders
Copyright © NuWire Investor and NuWire, Inc 2007. All rights reserved. NuWire Investor material may not be copied, reproduced, redistributed, published or modified without the prior express written consent of NuWire, Inc.

Featured Local Company

prudentialfloridawcirealty

561 8434199
2255 Glades Rd Ste 100 E
Boca Raton , FL
http://myFLrealty.com

Regional Articles
- 1031 Exchange Eligibility Altamonte Springs FL
- 1031 Exchange Eligibility Apopka FL
- 1031 Exchange Eligibility Arcadia FL
- 1031 Exchange Eligibility Atlantic Beach FL
- 1031 Exchange Eligibility Auburndale FL
- 1031 Exchange Eligibility Avon Park FL
- 1031 Exchange Eligibility Bartow FL
- 1031 Exchange Eligibility Belle Glade FL
- 1031 Exchange Eligibility Boca Raton FL
- 1031 Exchange Eligibility Bonita Springs FL
- 1031 Exchange Eligibility Boynton Beach FL
- 1031 Exchange Eligibility Bradenton FL
- 1031 Exchange Eligibility Brandon FL
- 1031 Exchange Eligibility Brooksville FL
- 1031 Exchange Eligibility Cantonment FL
- 1031 Exchange Eligibility Cape Coral FL
- 1031 Exchange Eligibility Casselberry FL
- 1031 Exchange Eligibility Chipley FL
- 1031 Exchange Eligibility Clearwater FL
- 1031 Exchange Eligibility Clermont FL
- 1031 Exchange Eligibility Clewiston FL
- 1031 Exchange Eligibility Cocoa Beach FL
- 1031 Exchange Eligibility Cocoa FL
- 1031 Exchange Eligibility Crawfordville FL
- 1031 Exchange Eligibility Crestview FL
- 1031 Exchange Eligibility Crystal River FL
- 1031 Exchange Eligibility Dade City FL
- 1031 Exchange Eligibility Dania FL
- 1031 Exchange Eligibility Daytona Beach FL
- 1031 Exchange Eligibility Debary FL
- 1031 Exchange Eligibility Deerfield Beach FL
- 1031 Exchange Eligibility Defuniak Springs FL
- 1031 Exchange Eligibility Deland FL
- 1031 Exchange Eligibility Delray Beach FL
- 1031 Exchange Eligibility Deltona FL
- 1031 Exchange Eligibility Destin FL
- 1031 Exchange Eligibility Dunedin FL
- 1031 Exchange Eligibility Dunnellon FL
- 1031 Exchange Eligibility Englewood FL
- 1031 Exchange Eligibility Eustis FL
- 1031 Exchange Eligibility Fernandina Beach FL
- 1031 Exchange Eligibility Fort Lauderdale FL
- 1031 Exchange Eligibility Fort Myers FL
- 1031 Exchange Eligibility Fort Pierce FL
- 1031 Exchange Eligibility Fort Walton Beach FL
- 1031 Exchange Eligibility Gainesville FL
- 1031 Exchange Eligibility Green Cove Springs FL
- 1031 Exchange Eligibility Gulf Breeze FL
- 1031 Exchange Eligibility Haines City FL
- 1031 Exchange Eligibility Hallandale FL
- 1031 Exchange Eligibility Hialeah FL
- 1031 Exchange Eligibility Hobe Sound FL
- 1031 Exchange Eligibility Holiday FL
- 1031 Exchange Eligibility Hollywood FL
- 1031 Exchange Eligibility Homestead FL
- 1031 Exchange Eligibility Homosassa FL
- 1031 Exchange Eligibility Hudson FL
- 1031 Exchange Eligibility Immokalee FL
- 1031 Exchange Eligibility Inverness FL
- 1031 Exchange Eligibility Jacksonville Beach FL
- 1031 Exchange Eligibility Jacksonville FL
- 1031 Exchange Eligibility Jensen Beach FL
- 1031 Exchange Eligibility Jupiter FL
- 1031 Exchange Eligibility Key West FL
- 1031 Exchange Eligibility Kissimmee FL
- 1031 Exchange Eligibility Labelle FL
- 1031 Exchange Eligibility Lady Lake FL
- 1031 Exchange Eligibility Lake City FL
- 1031 Exchange Eligibility Lake Mary FL
- 1031 Exchange Eligibility Lake Placid FL
- 1031 Exchange Eligibility Lake Wales FL
- 1031 Exchange Eligibility Lake Worth FL
- 1031 Exchange Eligibility Lakeland FL
- 1031 Exchange Eligibility Land O Lakes FL
- 1031 Exchange Eligibility Largo FL
- 1031 Exchange Eligibility Leesburg FL
- 1031 Exchange Eligibility Lehigh Acres FL
- 1031 Exchange Eligibility Live Oak FL
- 1031 Exchange Eligibility Longwood FL
- 1031 Exchange Eligibility Loxahatchee FL
- 1031 Exchange Eligibility Lutz FL
- 1031 Exchange Eligibility Lynn Haven FL
- 1031 Exchange Eligibility Marco Island FL
- 1031 Exchange Eligibility Marianna FL
- 1031 Exchange Eligibility Melbourne FL
- 1031 Exchange Eligibility Merritt Island FL
- 1031 Exchange Eligibility Miami Beach FL
- 1031 Exchange Eligibility Miami FL
- 1031 Exchange Eligibility Miami Lakes FL
- 1031 Exchange Eligibility Middleburg FL
- 1031 Exchange Eligibility Milton FL
- 1031 Exchange Eligibility Mount Dora FL
- 1031 Exchange Eligibility Mulberry FL
- 1031 Exchange Eligibility Naples FL
- 1031 Exchange Eligibility Navarre FL
- 1031 Exchange Eligibility New Port Richey FL
- 1031 Exchange Eligibility New Smyrna Beach FL
- 1031 Exchange Eligibility Niceville FL
- 1031 Exchange Eligibility Nokomis FL
- 1031 Exchange Eligibility North Fort Myers FL
- 1031 Exchange Eligibility North Miami Beach FL
- 1031 Exchange Eligibility North Palm Beach FL
- 1031 Exchange Eligibility North Port FL
- 1031 Exchange Eligibility Ocala FL
- 1031 Exchange Eligibility Ocoee FL
- 1031 Exchange Eligibility Okeechobee FL
- 1031 Exchange Eligibility Oldsmar FL
- 1031 Exchange Eligibility Opa Locka FL
- 1031 Exchange Eligibility Orange City FL
- 1031 Exchange Eligibility Orange Park FL
- 1031 Exchange Eligibility Orlando FL
- 1031 Exchange Eligibility Ormond Beach FL
- 1031 Exchange Eligibility Oviedo FL
- 1031 Exchange Eligibility Palatka FL
- 1031 Exchange Eligibility Palm Bay FL
- 1031 Exchange Eligibility Palm Beach FL
- 1031 Exchange Eligibility Palm Beach Gardens FL
- 1031 Exchange Eligibility Palm City FL
- 1031 Exchange Eligibility Palm Coast FL
- 1031 Exchange Eligibility Palm Harbor FL
- 1031 Exchange Eligibility Palmetto FL
- 1031 Exchange Eligibility Panama City Beach FL
- 1031 Exchange Eligibility Panama City FL
- 1031 Exchange Eligibility Pensacola FL
- 1031 Exchange Eligibility Pinellas Park FL
- 1031 Exchange Eligibility Plant City FL
- 1031 Exchange Eligibility Pompano Beach FL
- 1031 Exchange Eligibility Ponte Vedra Beach FL
- 1031 Exchange Eligibility Port Charlotte FL
- 1031 Exchange Eligibility Port Orange FL
- 1031 Exchange Eligibility Port Richey FL
- 1031 Exchange Eligibility Port Saint Lucie FL
- 1031 Exchange Eligibility Punta Gorda FL
- 1031 Exchange Eligibility Riverview FL
- 1031 Exchange Eligibility Rockledge FL
- 1031 Exchange Eligibility Safety Harbor FL
- 1031 Exchange Eligibility Saint Augustine FL
- 1031 Exchange Eligibility Saint Cloud FL
- 1031 Exchange Eligibility Saint Petersburg FL
- 1031 Exchange Eligibility Sanford FL
- 1031 Exchange Eligibility Sarasota FL
- 1031 Exchange Eligibility Satellite Beach FL
- 1031 Exchange Eligibility Sebastian FL
- 1031 Exchange Eligibility Sebring FL
- 1031 Exchange Eligibility Seffner FL
- 1031 Exchange Eligibility Seminole FL
- 1031 Exchange Eligibility Spring Hill FL
- 1031 Exchange Eligibility Starke FL
- 1031 Exchange Eligibility Stuart FL
- 1031 Exchange Eligibility Summerfield FL
- 1031 Exchange Eligibility Sun City Center FL
- 1031 Exchange Eligibility Tallahassee FL
- 1031 Exchange Eligibility Tampa FL
- 1031 Exchange Eligibility Tarpon Springs FL
- 1031 Exchange Eligibility Titusville FL
- 1031 Exchange Eligibility Valrico FL
- 1031 Exchange Eligibility Venice FL
- 1031 Exchange Eligibility Vero Beach FL
- 1031 Exchange Eligibility Wauchula FL
- 1031 Exchange Eligibility Wesley Chapel FL
- 1031 Exchange Eligibility West Palm Beach FL
- 1031 Exchange Eligibility Winter Garden FL
- 1031 Exchange Eligibility Winter Haven FL
- 1031 Exchange Eligibility Winter Park FL
- 1031 Exchange Eligibility Winter Springs FL
- 1031 Exchange Eligibility Zephyrhills FL
Related Local Events
Miami Spring Home Design And Remodeling Show ( Home Show )it's more than a home show
Dates: 3/27/2009 - 3/30/2009
Location: Miami Beach Convention Center
Miami Beach FL
View Details

Foreclosure, Responsible and Bankruptcy
Dates: 11/19/2008 - 11/19/2008
Location: Holiday Inn, Express
Tampa FL
View Details

Backyard Living Expo
Dates: 11/18/2008 - 11/20/2008
Location: Orange County Convention Center
Orlando FL
View Details

2008 REALTORS Conference & Expo
Dates: 11/7/2008 - 11/10/2008
Location: Orange County Convention Center
Orlando FL
View Details

2008 REALTORS? Conference & Expofication CourseREO)ments Seminar in Bellevue estsice de Milagros Poder y Glorias Methods, Gain Freedom to Operate, Build Defensive Pate
Dates: 11/7/2008 - 11/10/2008
Location: Orange County Convention Center
Orlando FL
View Details
Rate Article
     
Articles Insider

Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin

Topics:
Advertising Engineering Home Services Retail & Consumer Services
Business Services Entertainment Industrial Goods & Services Software
Career Family Insurance Technology
Cars Financial Services Internet Telecommunications
Computer Hardware Food & Beverage Legal Transportation & Logistics
Construction Health Pets Travel
Education Home Electronics Real Estate Wedding