Discussion:Yacht in a 1031 exchange
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Discussion Forum Index --> Tax Questions --> Yacht in a 1031 exchange
Gregg Gillaspy, CPA, CFP (talk|edits) said: | July 16, 2006 |
| Can a transaction be put together to perform a "partial" Like Kind Exchange between the sale of a $45 million ski resort and a $3 million yacht? If so, would the yacht just have to be rented out or use it in the business of selling other yachts? | |
| 16 July 2006 | |
| Gregg, this would not be a like-kind exchange. The 1031 regulations do not allow 1031 exchanges between real and non-real properties. | |
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