like kind property

like-kind property. Tax. Property that is of such a similar kind, class, or character to other property that a gain from an exchange of the property is not recognized for federal income-tax purposes. See LIKE-KIND EXCHANGE. [Cases: Internal Revenue 3184. C.J.S. Internal Revenue §§ 120–121, 124.]

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词条贡献者

译者黎川，毕业于世界顶级翻译学院，擅长翻译各种与专利与技术诉讼相关的法律文件。