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Tag Archives: Like-kind

Can I trade apartments for agricultural ground with like a 1031 Exchange?

Saturday, March 12, 2011

Apartments are considered like-kind 1031 Exchange properties. Agricultural ground is considered like-kind 1031 Exchange Properties. Even though these are very different, the chances of a 1031 Exchange of apartments for agricultural ground are very good. Please contact a Qualified Intermediary ASAP to begin the 1031 Exchange process. Tweet

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Can I 1031 Exchange a duplex for a motor home?

Tuesday, March 8, 2011

The quick answer to this question is NO. A 1031 Exchange requirement is that both properties must be of like-kind. Like kind real estate is ONLY property that is purchased for the purpose of investment, such as land, AND, property held for a business or trade, such as a rental property. Your duplex would certainly [...]

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Can farm land be exchanged for a lake home in a 1031 exchange?

Friday, March 4, 2011

The first condition that must be met in order to accomplish non-recognition of gain under 1031 Exchange is: The properties exchanged must qualify, and be of  like-kind. What that means is the properties on both sides of the exchange, the one[s] you are selling and the one[s] you are buying must all be considered like-kind. Farm land [...]

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What does “like property” mean in a 1031 exchange?

Saturday, February 19, 2011

For some of the readers, this may seem a very simple question, of which many already know the answer. However, as more and more taxpayers seek information about 1031 Exchange, this question continues to be asked. So what “like property”? The term “like property” refers to “like-kind” property which is term used by the IRS [...]

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Are you sure in a 1031 Exchange that land zoned for Farming can be traded for land zoned Residential?

Thursday, January 27, 2011

Under the 4 classifications of Real Estate, Real Estate held for Investment purposes such as land qualifies for IRS 1031 Exchange like-kind property. There is no mention of how the land is zoned because zoning is a city, county or state issue, and rarely is it a federal issue. So we are certain that these [...]

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In a 1031 Exchange, what does like-kind mean?

Tuesday, January 18, 2011

Like-kind is a federal tax term relating to the nature or character of the real estate in the hands of the owner rather than to its grade or quality. The fact that the real estate is improved or unimproved is not material, for that fact relates only to the grade or quality of the property [...]

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Doesn’t like-kind property qualify for 1031 Exchange?

Tuesday, January 11, 2011

Like-kind is one of the most misused terms in real estate exchanging. Be sure not to confuse the term ‘like-kind’ with the term ‘qualified property’. The property must meet both definitions to get §1031 treatment. The regulations broadly define the term “like-kind.” “As used in Section 1031(a), the words ‘like-kind’ have reference to the nature [...]

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