Which of the following qualify as a like-kind exchange?
-Land in London, England for land in San Francisco, California.
A)qualifies as a like-kind exchange
B)does not qualify as a like-kind exchange

Question

Quizplus · Accepted Answer

To qualify as a like-kind exchange, both properties must be of the same nature or character, such as both being rental properties or both being raw land. Land in London and land in San Francisco are not of the same nature or character, so they do not qualify for a like-kind exchange.

Which of the Following Qualify as a Like-Kind Exchange