For federal Section 1031 purposes, qualifying U.S. real property can generally be like kind even when properties differ in grade or quality; improved and unimproved real property may be like kind. U.S. real property and foreign real property are not like kind. Transaction-specific treatment should be confirmed with tax counsel.
Professional use
Use this resource to frame questions for your qualified intermediary, CPA, attorney, broker and lender. Facts and deadlines should be verified against current law and the circumstances of the transaction.
Primary reference: view source.