like kind exchange

like-kind exchange. An exchange of trade, business, or investment property (except inventory or securities) for property of the same kind, class, or character. • Such an exchange is not taxable unless cash or other property is received. See IRC (26 USCA) § 1031. [Cases: Internal Revenue 3184. C.J.S. Internal Revenue §§ 120–121, 124.]

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词条贡献者

译者Jenny，毕业于英国顶尖的高级翻译学院，擅长翻译各种与ERISA 诉讼相关的法律文件。