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Like-Kind Property

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ProfessionalTax & Financial PlanningInvesting

Definition

Property of similar type meeting 1031 exchange requirements for tax-deferred exchange.

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About this term

After 2017, 1031 exchanges limited to real property (land, buildings, etc.). Personal property exchanges limited to specific categories.

Pro Tip

Verify like-kind property status; rules changed in 2017 limiting eligible properties.

Example

Exchanging apartment building for office building in 1031 exchange.

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