Can you provide more detail as to the ineligibility versus eligibility of a 1031 exchange deriving from the use of a second home?
According to Section 1031 exchange, both the properties which are to be exchanged must be held for use in a trade or business or for investment purposes.
Ineligibility
Property that is personally used such as primary residence, second home or vacation home does not qualify for like -kind exchange treatment. A second home or a vacation home held strictly for personal use with no rental activity at all is all considered a second home and doesnot qualify for exchange.
Eligibility
Both the properties must be similar in nature to qualify for like -kind exchange. That portion of the primary residence that is used for business or trade or investment qualify for 1031 like-kind exchange.
Can you provide more detail as to the ineligibility versus eligibility of a 1031 exchange deriving...
How can you use a 1031 exchange to accomplish a legacy portfolio?
Complete the following question on this sheet. The more detail you provide, the better. Advertisements for an herbal product, ginseng, claim that it promotes endurance. To determine if the claim is fraudulent and prior to accepting this claim, what type of evidence would you like to see? Provide details of an investigative design. Evidence is anything that you see, experience, read, or are told that causes you to believe that something is true or has really happened. ... Evidence is...
Please provide a lot of detail when solving this question, thank you!: A person can see objects clearly only if they are between 22cm and 82cm away. Assuming that the person is given glasses which sit 2cm from the eyes, what focal length should the glasses be to see things far away clearly?
Hi, can you answer this question in more detail? Subject: Quality Management and Practices 3. Research on the current state of Toyota's Company quality management covers the following topics, demonstrate your theoretical understanding and skills in evaluating existing operational management issues, and use a quality management framework for analysis. • Total Quality Management… (Words: 1000)
can you please go into detail with for 400 words or more thank you Johnny, a neighbor who is not a merchant under the Uniform Commercial Code, offers to buy a car from Mark for $30,000. Mark asks Johnny for some time to think about it. Johnny says sure. He writes on a piece of paper that he will keep the offer open for two weeks. A week later Johnny sees another car he would rather buy. He purchases that,...
1) Suppose that an application can take advantage of the parallelism provide by a dual core processor 33% of execution time. Use Amdahl's Law to determine the overall speedup of the application on a dual core processor versus a single core processor. PLEASE EXPLAIN IN DETAIL
Provide a brief answers to the following questions above. You are also encouraged to provide more detail if you wish. 1. Fracking is also known by another name (or phrase). What is it? In other words, Fracking is also called what? 2. Large volumes of what materials are injected into the ground under high pressure to free the trapped oil & gas?
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Which of the following best describes trade-offs of ectothermy versus endothermy? Ectotherms can allocate more resources (Energy) to body growth, but also must expend more resources maintaining body temperature; the opposite is true for endotherms. Endotherms struggle to maintain quick muscle action in cooler environments as compared to ectotherms. Ectotherms generally maintain a more constant internal temperature than do endotherms. None of the above is correct As a zoology student, you have been comparing vertebrate and invertebrate excretory systems. From...