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Real Estate & Property Law

: Closing Real Estate in Chicago

Vacation Homes and 1031

By Peter Olson, Esq.

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Saw a little nugget in the ISBA Real Estate Section Councils newsletter regarding whether you can do a 1031 exchange using a typical vacation home. I.e. would that sort of property be "held for productive use in a trade or business or for investment."

Well, the tax court said no and here's the decision.

Full post as published by Closing Real Estate in Chicago on September 11, 2008 (boomark / email).

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