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Like-Kind Property

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Like-Kind Property
Investment or business land/properties that are considered to be the same type and exchanging them is therefore tax-free.

Notes:
For example, you can exchange a car for another car tax-free, but not a car for a piece of land.
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? Mentioned in ? References in periodicals archive
 
The Internal Revenue Code applies a liberal standard to what constitutes like-kind property when dealing with real estate.
New trends now emerging in popular like-kind exchanges by Wolloch, Richard D. / Real Estate Weekly
IRC section 1031 permits the tax-free exchange of like-kind property.
Like-kind exchanges of real property by Schnee, Edward J. / Journal of Accountancy
1031 (a)(1), gain or loss on the exchange of property used in a trade or business or for investment can go unrecognized if the property is exchanged solely for like-kind property also used in a trade or business or for investment.
Sec. 1031 and fractional property interests by Mountain, Erin / The Tax Adviser
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