Beutler Exchange Group

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Son as Tenant

Son resided in the replacement property without paying rent.  A Minnesota state tax court disallowed the exchange.  Johnson vs. C.I.R., 2014 WL 2965410 (MN Tax Ct., 6/20/14)  In the last few years we have seen similar cases where the courts have determined that the property is being held for personal use purposes rather than investment purposes.  Revenue Procedure 2008-16 provides guidance regarding rental income and personal use of dwelling units.

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