Section 1031
Also called: IRC 1031 · Internal Revenue Code Section 1031 · §1031
The federal tax-code section governing like-kind exchanges of qualifying real property.
What it means in practice.
Section 1031 is the statutory framework under which gain or loss may receive nonrecognition treatment in a qualifying exchange. Current federal treatment is generally limited to real property.
Why it matters.
Professionals use “1031” as shorthand for the statute, but transaction details are governed by the Code, regulations, IRS guidance and case law.
Additional notes.
Section 1031 is the statutory framework under which gain or loss may receive nonrecognition treatment in a qualifying exchange. Current federal treatment is generally limited to real property.
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