1031 “Like-Kind” Exchange explain in detail


1031 Like-kind Exchange is that under which swapping of like-kind properties takes place between two parties thereby deferring the capital gain taxes on the exchange. Here the term like-kind is used to define the properties of the same nature. Basically, in a like-kind exchange, the taxpayer doesn’t receive any profit from the sale of the relinquished property and can only exchange one property for another.

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