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