which of the following types of real property will qualify as like-kind property? (check all that apply.)Inventory held for resale

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05-12-2022
Business

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which of the following types of real property will qualify as like-kind property? (check all that apply.)Inventory held for resale

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okpalawalter8 okpalawalter8 · Answer 1 · 2022-12-12T12:01:53-05:00

Personal use of real property types of real property will qualify as like-kind property.

What is a like-kind treatment?

In general, any real estate holding that is kept for investment or for productive use in the trade or business is eligible for a like-kind exchange.

If a taxpayer sells one piece of investment property and buys another within the specified period following the original sale, the taxpayer will not be required to pay tax on the first disposition of investment property.

Two properties are considered to be of the same "kind" if they have the same type or character but vary in terms of their grades or other characteristics.

A piece of real estate is still regarded as being of the same kind whether it has been developed or left in its natural form. An apartment building, for instance, is often compared to another apartment building as an example of a similar-kind construction.

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What is a like-kind treatment?

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