An example of Like-Kind property would be: Vacant Land for a Multi Family Rental. Diversification and consolidation of any of these types of properties is allowed. An Example of Diversification is Selling an Apartment building (multi-family rental) and buying three single family rentals. An Example of consolidation is selling four duplexes (multi-family rentals) and buying a commercial building.
Property ineligible under 1031 guidelines:
Primary residence, Partnership interests, Money, Stock, Bonds or Notes, Foreign Property, 2nd Home, Stock in Trade, Inventory or other property held inherently for sale. |
