May 01, 2025
Define This: Like-kind property
May 01, 2025 like-kind property Properties of the same nature or character, even if they differ in grade or quality. Like-kind exchanges of investment or business property are typically exempt from federal taxes on gains under Internal Revenue Code 1031. The IRS gives the example that an apartment b
May 01, 2025
like-kind property
Properties of the same nature or character, even if they differ in grade or quality.
Like-kind exchanges of investment or business property are typically exempt from federal taxes on gains under Internal Revenue Code 1031. The IRS gives the example that an apartment building would generally be like-kind to another apartment building.