Does anyone have knowledge of whether one can exchange a rental Real estate property for a boat that one can live on (trawler) This is called a 1031 exchange. Does it apply to boats?? Gregory Han Key Biscayne FL 33149 ghan@GregHan.com

Gregory, Let me first say that I am not a tax accountant or tax lawyer. I did research this issue just recently hoping to do something similar, however. I reviewed the IRS publications and did speak with a tax lawyer and others in the field. The quick answer is no. Real property and a boat are not "like kind" enough to qualify for a tax-free exchange. Surprisingly, virtually any real property, whether it is income generating or is non-income held for investment, are like kind. Outside of real property, the rules get much tighter. In one example in the IRS publication two animals of the same kind but different genders are not even considered "like kind". Oh well, tax law and common-sense are not always synonymous. Regards, Kurt Hanson ----- Original Message ----- From: "Gregory Han" <ghan@greghan.com> To: "Trawler-World-List" <trawler-world-list@lists.samurai.com> Sent: Friday, October 18, 2002 3:26 PM Subject: TWL: Tax free exchange of real estate for boat ? > Does anyone have knowledge of whether one can exchange a rental Real > estate property for a boat that one can live on (trawler) This is called > a 1031 exchange. Does it apply to boats?? > > Gregory Han > Key Biscayne FL 33149 > ghan@GregHan.com > _______________________________________________ > http://lists.samurai.com/mailman/listinfo/trawler-world-list > >

Has anyone else had a problem this evening with the Trawlerworld website? Do I need to recalibrate my two typing fingers? JG