No gain or loss is recognized upon the exchange of property held for productive use in a trade or business, or for investment, if the property received is of a like kind and is held either for productive use in a business or investment. This type of transaction has become known as a Starker exchange or a Section 1031 exchange. This rule does not cover inventories or other property held primarily for sale, stocks, bonds, notes, certificates of trust, beneficial interests, partnership interests, securities or evidence of indebtedness. Federal Form 8824 is used to report like-kind exchanges.
Sparks 1031 EXCHANGE Solutions
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