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Income Tax Planning
Chapter 13: Nontaxable Exchanges/SECTION 1031: LIKE-KIND EXCHANGE
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Chapter 13: Nontaxable Exchanges

SECTION 1031: LIKE-KIND EXCHANGE

01.Core Concepts

• If property is exchanged for like-kind property: • No gain or loss is recognized. • If the property is held:  For productive use in a trade or business  As an investment • TCJA 2017 limits nonrecognition treatment to like-kind exchanges of real property that is not held primarily for sale. • Mandatory!