Barry E. Moore and Deborah E. Moore - Page 1

                                 T.C. Memo. 2007-134                                  

                               UNITED STATES TAX COURT                                

                 BARRY E. MOORE AND DEBORAH E. MOORE, Petitioners v.                  
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket No. 11002-03.              Filed May 30, 2007.                  

                    In 1988, Ps, Georgia residents, purchased a second                
               home (vacation home 1), also in Georgia, which the                     
               family used on weekends from mid-April to Labor Day for                
               recreational purposes.  After Ps changed their                         
               principal residence in 1995 or 1996, the lengthened                    
               commute to vacation home 1 made its continued use                      
               impractical, and, in 1999, they agreed to purchase                     
               another vacation home (vacation home 2) closer to their                
               principal residence.  In 2000, Ps disposed of vacation                 
               home 1 and acquired vacation home 2 pursuant to a                      
               series of transactions intended to qualify as a tax-                   
               free, like-kind exchange of those properties under sec.                
               1031, I.R.C.  Prompted by the need for liquidity                       
               incident to their then-pending divorce, Ps were holding                
               vacation home 2 for sale at the time of trial.  Ps and                 
               their children used both vacation homes exclusively for                
               recreational purposes, and Ps never rented or offered                  
               to rent either vacation home to third parties.  One of                 
               Ps’ motives in acquiring and holding each vacation home                

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Last modified: November 10, 2007