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Real estate investors who invest in similar investments can avoid capital gains taxes. Consult a tax advisor to ensure your gains are in an escrow account.
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Failure to follow these rules will result in the property owner losing eligibility for the 1031 capital gain tax exemption. He or she will then have to pay the tax within the current tax cycle. Remember that 1031 is not available to primary residences. You must first move into a property you have established as your primary residence to be eligible for the 1031 tax exemption.
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If you also have pricing spreadsheets and other information necessary to run your vacation rental company, consider adding this to the sale. Perhaps you've created a guide for your home that includes lots of information about the area. You might have a detailed checklist that you can give to a cleaner or housekeeper for them to refer to when they make a turn.
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It can be difficult trying to sell your rental home with future bookings. Buyers like places that they can rent quickly to new tenants. Avoid trying to increase your rental income by selling future bookings. Instead, just sell the property and move on.
