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Like-Kind Requirements For 1031 Exchanges

Exchange Update

Internal Revenue Code Section 1031 applies only to “property held for productive use in a trade or business or for investment”. It allows for the deferral of capital gain tax if such property is exchanged solely for property of “like-kind”. Contrary to what many people believe, “like-kind” does not mean that an investor must, for example, exchange land for land, or a duplex for a duplex.

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