Offshoreonly.com - Tax saving question

Quote:

Originally Posted by Robert Geoghegan

I disagree with most of the above post. Most car dealers (and Boat dealers) are not familiar with what is known as a "1031 Personal Property Exchange". A 1031 is most often used with Real Estate, however, this exchange also applies to: Trailers, Containers, Construction Equipment, Barges, Airplanes, Buses, Office Furniture, even Artwork.
Check out www.IPX1031.com for more info.
I'm not an accountant, so I'd reccomend checking with one.
Good Luck.

Wow I am in the title insurance industry here in Long Island and work with many 1031 exchange companies for the sale of Real Estate. But I never knew that they could also do like kind exchanges for recreational vehicles too. It does make sense though if you are able to deduct a boat like a second home why not be able to defer the sales tax. The one thing I am questioning though is the fact that there is no Capital Gain on a boat. I thought that is the purpose of the 1031 exchange to deffer capital gain to the next property. And in theroy pay the capital gain down the road....