New Rules Impacting Investors Converting Rentals to Residences

I know most of you have been following the big race that's shaping up to make November an interesting month - presidential elections do that. While we've had our eyes turned to that, our lawmakers passed a very important law to assist many homeowners in the foreclosure crisis. One part of that law that was not widely publicized could affect many exchange clients who might be thinking of making that rental they acquired in their exchange into their principal residence.

Please click on the link below to read more...

http://www.apiexchange.com/articles/pdf/Reduced%20121%20Gain%20Exclusion%20Post%201-1-09%20%20(118).pdf