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    #1

    Like-kind exchange

    Client has vacant land purchased for investment. Has the opportunity to do an even trade for a three unit commercial building. The bank has agreed to move the loan on the land (200k) to the building. No boot. Is this a completely non-taxable exchange? Thanks, David
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    #2
    Originally posted by David View Post
    Client has vacant land purchased for investment. Has the opportunity to do an even trade for a three unit commercial building. The bank has agreed to move the loan on the land (200k) to the building. No boot. Is this a completely non-taxable exchange? Thanks, David
    If no boot and absent other facts......Yes.

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      #3
      Just be sure no personal property is involved such as furniture or other equipment.
      In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
      Alexis de Tocqueville

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