Are all types of assets/properties capable being exchanged?

By | April 10th, 2019|Comments Off on Are all types of assets/properties capable being exchanged?
QuestionsAre all types of assets/properties capable being exchanged?
1 Answers
Xchange Expert Staff answered 2 years ago

Under 1031 exchange the exchange can only be done for the like-kind properties. As the name suggests “like-kind” exchange is used to define two or more properties of the same nature. During the exchange process the taxpayer does not receive any kind of profit directly from the sale of relinquished property only it can be exchanged for other.

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