The IRS has issued final regulations that define what property qualifies for Sec. 1031 like-kind exchange treatment.
The new regulations (T.D. 9935) address the definition of real property as well as the receipt of personal property incidental to real property received in a like-kind exchange.
Taxpayers may apply the proposed regulations, if followed consistently and entirely, for exchanges of real property beginning after Dec. 31, 2017, and before the publication date of the final regulations in the Federal Registry. Read more.