[WSBARP] 1031 Exchange and Like Kind Property

[Jim Doran]

Here is the line from the IRS information website that I think clearly
denies the use of a 1031 Exchange to a the situation where the owner of real
property with timber on it sells the timber and then wants to use the
proceeds from the timber sale to buy more real estate.  The trees are
personal property, are they not?

 

"Real property and personal property can both qualify as exchange properties
under Section 1031; but real property can never be like-kind to personal
property."   

 

James R. Doran

Attorney at Law

100 E. Pine Street - Suite 205

Bellingham, WA 98225

(360)393-9506

jim at doranlegal.com <mailto:jim at doranlegal.com> 

www.doranlegal.com

 

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