All types of business and investment real properties are like-kind.

Question

Quizplus · Accepted Answer

According to Section 1031 of the IRS tax code, all types of business and investment real properties are considered like-kind, regardless of their specific use, location, or quality. This means that a commercial property can be exchanged for a residential property, a rental property for raw land, or any other combination of real estate assets, as long as they are held for investment or business purposes. However, personal residences and vacation homes do not qualify for like-kind exchanges under this provision.

All Types of Business and Investment Real Properties Are Like-Kind