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While the definition of like kind is stricter when it comes to personal
property - investors may still take advantage of tax deferred treatment
in an IRC 1031 exchange in the sale of investment personal property. The
personal property exchange can be utilized to relocate a business, to upgrade
equipment, or to streamline production by replacing outdated technology
and machinery with more efficient models.
- Like kind personal property includes:
- Livestock of the same sex
- Automobiles for automobiles
- Buses for buses
- Corporate aircraft for corporate jet
- Doctor practice for doctor practice
- Manufacturing equipment for manufacturing equipment
- Restaurant equipment for restaurant equipment
Please contact one of our offices to speak with an exchange professional
to discuss the like kind requirements for your personal property transaction.
Click here for offices.
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