like-kind exchange

like-kind exchange definition - business

like-kind exchange

The sale of real or personal business property when proceeds are invested in property of a similar nature. Under IRS Code Section 1031, like-kind exchanges result in a deferral of capital gains taxes. Also called tax-deferred exchange. See also Section 1031.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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