Tiny Vacation Houses For Sale
If the property owners fail to comply with these rules, their eligibility for the 1031 Capital Gains Tax Exemption will be null. They will also have to pay tax in that tax year. You should also remember that your primary residence is not eligible for the 1031 tax exemption. To qualify for the 1031 exemption, you will need to first move into a newly constructed property as your primary residence.
A vacation rental business adds another layer of complexity to the sale. It doesn't have to be complicated. You can make sure that everything goes smoothly by contacting all the people involved in your vacation rental business before you list your vacation property.