The Capital Gains Blog

Posts Tagged ‘reclubs’

Question: 1031 Tax-Deferred Exchange Question?

Hello and thanks in advance.

Scenario:

“John” is a first time home buyer (primary residence, lives alone, 30-yr traditional loan) who may want to move in a few years. Call it House A.
John wants to move into another property (House B) and “convert” it to his primary residence while renting out House A.

Questions:

Can House A be deemed a rental property? If so can John then use a 1031 Tax Exchange and exchange House A for another rental property (House C) whenever he wants to make the exchange?
During this time John is living in House B as his primary residence.

I think the answer is yes but I am still wondering. Also if anyone has had experience doing this could you please summarize the process? John and I are in similar situations and others experiences would be insightful. Thanks.

Answer: Here is the NAR website for you so you will understand the process a little better.

http://www.realtor.org/libweb.nsf/pages/fg408

I have done many 1031 exchanges being in escrow but according to some people I may not give the ritght information to you so that is why I gave you the above website.

Hedge Fund Financial Model Predicts Apple Inc. (AAPL) to Fall 80% as Early as This Fall

BAM Investor’s advanced behavioral analysis financial model predicts Apple Inc. (AAPL) stock price to fall to $42 per share as soon as Fall 2010 (PRWeb Jun 17, 2010) Read the full story at http://www.prweb.com/releases/hedge_fund_financialmodel/apple_stock_crash/prweb4155294.htm

Warning! Astounding New (Home Warranty Company) Secrets!