Originally Posted by iggybr
Anyone know of the chance of selling my property in a San Diego and transferring the equity to a boat as primary residence and thereby avoiding capital gains on the property?
If the home was your primary residence you can exempt 500,000 of the capital gains if married if you meet certain requirements. That should cover most of the sale
for your average home in San Diego.
If it was a investment property you can make certain deductions and change the cost basis of the home based on things like improvements and repairs
Talk with a CPA.
Like kind exchanges don't apply to a boat sadly as others have said.