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

法律翻译文楷，毕业于新加坡知名法学院，专注翻译各类与合并许可有关的法律文件。