By Nathan Vinson, Attorney English, Lucas, Priest and Owsley, LLP If you receive a vacation home as a gift, you can exchange it for another property to avoid a big tax hit. Receiving a home or significant piece of property as a gift may sound wonderful. And it is, in nearly every case. But sometimes when you get a piece of property as a gift, it’s not quite what you want, or perhaps it is too much of a burden to handle. You may decide to sell it, or, you may find it more advantageous to do an exchange. That’s a strategy we recommend to clients on occasion to help avoid tax on a second home. That tax is usually at the more advantageous capital gain rate, but nevertheless, it is still tax dollars out of your pocket. I’ll explain how it works. Read More