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Section 1031 Final Regulations Defining Real Property and the Effect on Qualified Intermediary Exchanges  

Author:  Alexis J. Kim.

Source: Volume 39, Number 03, Spring 2022 , pp.23-31(9)

Journal of Taxation of Investments

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This article discusses the proposed and final Treasury Regulations that provided guidance on what assets constitute “real property” for the purpose of qualifying as like-kind property in a tax-deferred exchange under Internal Revenue Code Section 1031. The meaning of “real property” in this context became more relevant in 2017 when like-kind exchanges became limited to only qualifying real property. The article includes a user-friendly reference chart of categories and examples of property types that either do or do not qualify as “real property” under the final Treasury Regulations.

Keywords: like-kind exchange, Section 1031 exchange, qualifying property, incidental personal property, capital gain deferral, qualified intermediary

Affiliations:  1: Thompson Hine LLP.

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