It is a basic principle of the income tax that the gain or loss realized by a taxpayer from the conversion of property into cash, or from the exchange of property for other property that differs ...

A Section 1031 like-kind exchange is an Internal Revenue Code provision that allows a person to not pay tax on a gain when selling real property to reinvest in real property of equal or greater value.

Like-kind exchange treatment is not elective. Despite this, there are situations where a taxpayer may wish to avoid nonrecognition treatment. If this is the case, in order to avoid application of the ...

Kelly Alton, NES Financial Corp., San Jose, Calif. The capital-intensive nature of companies engaged in oil and gas operations and the liberal rules that determine the like-kind nature of oil and gas ...