Like-Kind Property

Like-Kind Property,

What is Like-Kind Property?

  1. Meaning of Like-Kind Property: The term "similar assets" refers to two properties of the same type, regardless of category or nature, which are tax-exempt. The Internal Revenue Code (IRC) defines property under section 1031 as property held for investment, commercial or business purposes and exchanges under 1031. This means that the two properties involved in the exchange are a business or require mandatory investment. Therefore, a private apartment is not considered a similar property.

    • Under Article 1031 of the Tax Code, exchanges can be made without any tax liability.
    • Property should be for commercial or investment purposes, but not necessarily uniform in quality or standard.
    • Central Residence 1031 is not eligible for exchange.
    • Property must be immovable, owned by the United States

Literal Meanings of Like-Kind Property

Like:

Meanings of Like:
  1. Has the same features or similar features.

  2. Used to draw attention to the nature of an action or event.

  3. As an example.

  4. It is used in connection with something else.

  5. (A person or thing) that has the same characteristics or characteristics as other people or things.

  6. Very good.

  7. like it.

  8. It is used as a nonsense in speech or indicates the speaker's uncertainty about punishment.

  9. Used to convey one's feelings or emotions directly in the form of speech (regardless of its actual date or not)

  10. On the road

  11. Find it comfortable, pleasant, or satisfying.

  12. Desire of desire

  13. Things we like or dislike.

Sentences of Like
  1. They are like brothers

  2. I'm sorry to come here all of a sudden

  3. Take a look at works like Animal Farm and 1984

  4. An appointment can be made to determine this

  5. I answered in the same way

  6. People who move countries

  7. I feel like I've run away from a camel

  8. People who don't like reading books

  9. I would like a cup of coffee

  10. Different likes, dislikes, likes and income levels

Synonyms of Like

comparable, similar, look on with favour, parallel, think well of, for instance, have regard for, not unlike, more or less the same, be fond of, admire, of a kind, as, identical to, respect, corresponding, in particular, correspondent, equivalent, have a fondness for, viz., approximating, such as, related, analogous, esteem, be attached to, namely

Kind:

Meanings of Kind:
  1. A group of people or a group of things with similar characteristics.

  2. Show or display a friendly, generous and caring character.

Sentences of Kind
  1. All types of music

  2. She is a good and kind woman

Synonyms of Kind

variety, gentle, mild, kind-hearted, tender, class, mellow, warm, category, type, caring, warm-hearted, sort, kindly, affectionate, good-hearted, tender-hearted, genre, soft-hearted, good-natured, style, form, feeling, loving

Property:

Meanings of Property:
  1. Something or things that are collectively owned by someone.

  2. An attribute, quality, or feature of something.

Sentences of Property
  1. He wants to get Oliver and his belongings out of his house

  2. Heat properties to evenly increase the metal

Synonyms of Property

power, chattels, trait, hallmark, feature, things, personal effects, mark, movables, characteristic, effects, stuff, attribute, quality, belongings, possessions, goods, worldly goods

Like-Kind Property,

Like-Kind Property: What is the Meaning of Like-Kind Property?

  1. James Chen, CMT, is an experienced trader, investment advisor and global market strategist. He is the author of books on trade and technical business by John Wiley & Sons and has been a visiting researcher at CNBC, Bloomberg TV, Forbes and Reuters, among other financial companies.

    • Similar goods are similar goods which can be exchanged without tax liability under Article 1031 of the Tax Act.
    • Property should be for commercial or investment purposes, but not necessarily of the same quality or characteristics.
    • Central Residence 1031 is not eligible for the exchange.
    • Real estate must be owned by the United States for consideration.

Literal Meanings of Like-Kind Property

Like:

Meanings of Like:
  1. Having the same or similar characteristics.

  2. For example.

  3. Best.

  4. As if it were.

  5. Used in connection with one or something similar.

  6. (A person or thing) that has features or characteristics similar to other people or things.

  7. Used as a nonsense in speech or to indicate the speaker's uncertainty about the phrase used.

  8. It is used to convey someone's behavior or feelings in the form of a direct speech (regardless of whether it is real history or not).

  9. Find it pleasant, pleasant, or satisfying.

  10. Things you like or dislike.

  11. Similar to (added to name).

Sentences of Like
  1. He has a car like mine.

  2. I'm sorry I came here all of a sudden.

  3. People who move the country when they move

  4. An appointment can be made to set it up.

  5. It smells weird, like a little dust

  6. So he went into the room and said where is everyone? "

  7. Like a ship with a violent storm that has been launched a long time ago.

Synonyms of Like

be keen on, take to, savour, enjoy, lap up, fancy, much the same, kindred, get a buzz from/out of, be hooked on, go for, alike, be taken with, similar to, be into, derive pleasure from, find/take pleasure in, love, the same as, get a ■■■■ out of, derive satisfaction from, appreciate, be mad about/for, delight in

Kind:

Meanings of Kind:
  1. A group of people or things that have similar characteristics.

  2. Have or show a kind, generous and caring nature.

Synonyms of Kind

giving, bounteous, well meaning, hospitable, altruistic, family, natural kind, friendly, strain, indulgent, beneficent, selfless, long-suffering, open-handed, species, forbearing, tolerant, sympathetic, amiable, charitable, breed, compassionate, patient, liberal, race, pitying, nice, unstinting, philanthropic

Property:

Meanings of Property:
  1. They collectively own something else.

  2. An attribute, quality or attribute of something.

Sentences of Property
  1. Heat properties to spread the metal evenly

Synonyms of Property

fortune, assets, securities, wealth, patrimony, goods and chattels, holdings, gear, riches, resources, personalty, valuables, trek, capital