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No gain or loss shall be recognized on the exchange of real property held for productive use in a trade or business or for investment if such real property is exchanged solely for real property of like kind which is to be held either for productive use in a trade or business or for investment.
- Part III
Amendments. 2017—Pub. L. 115–97, title I, §§ 13303(b)(6),...
- 26 U.S. Code 351
The amendments made by this section [amending this section...
- Part III
IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar property as part of a qualifying like-kind exchange. Gain deferred in a like-kind exchange under IRC Section 1031 is tax-deferred, but it is not tax-free.
Under Section 1031 of the United States Internal Revenue Code (26 U.S.C. § 1031), a taxpayer may defer recognition of capital gains and related federal income tax liability on the exchange of certain types of property, a process known as a 1031 exchange.
Free access to full-text of the Internal Revenue Code, including Editor’s Notes and updated continuously, from Bloomberg Tax. Links to related code sections make it easy to navigate within the IRC.
Exchange of property held for productive use or investment. No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use in a trade or business or for investment.
1 Ιαν 2024 · Exchange of real property held for productive use or investment. (a) Nonrecognition of gain or loss from exchanges solely in kind.-- (1) In general.
Title 26 - INTERNAL REVENUE CODE Subtitle A - Income Taxes CHAPTER 1 - NORMAL TAXES AND SURTAXES Subchapter O - Gain or Loss on Disposition of Property PART III - COMMON NONTAXABLE EXCHANGES Sec. 1031 - Exchange of real property held for productive use or investment
