Information on 1031 exchange into a Lake of the Ozarks vacation or retirement home

Here’s a useful brochure showing how you convert your rental into a primary residence (see link below).  Why would you do this?  Think about exchanging (selling) raw land, a warehouse, a duplex, or a building your business currently owns and buying a Lake of the Ozarks condo or home.  You  then need to  hold the property for investment (limiting your personal use) or even rent it for two years to make some income.   After the two years, you can then move into the property and after five years from the date of purchase, you can then sell the property and be eligible for $500,000 capital gains exclusion (married) and your taxable gain has disappeared!  You didn’t even have to die to get this tax shelter.    

If you have any questions about RE/MAX Lake of the Ozarks or buying or selling Lake of the Ozarks real estate, you can always contact John Garrett at 573-302-2320 or e-mail us for a fast response. 

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