The long-awaited guidance on whether vacation properties which are rented out but are also occupied by the owner for personal use are eligible for like-kind exchange treatment1 was released on February 14, 2008.2 The guidance, in the form of a safe harbor, provides useful guidance in an area that has posed troubling questions for taxpayers (and tax practitioners) for years.

The long-awaited guidance on whether vacation properties which are rented out but are also occupied by the owner for personal use are eligible for like-kind exchange treatment1 was released on February 14, 2008.2 The guidance, in the form of a safe harbor, provides useful guidance in an area that has posed troubling questions for taxpayers (and tax practitioners) for years.

The long-awaited guidance on whether vacation properties which are rented out but are also occupied by the owner for personal use are eligible for like-kind exchange treatment1 was released on February 14, 2008.2 The guidance, in the form of a safe harbor, provides useful guidance in an area that has posed troubling questions for taxpayers (and tax practitioners) for years.