The exchange of partnership interest can usually qualify for the like-kind exchange rules, provided all requirements of the like-kind exchange provisions are met and proper elections are made at the partnership level.

Question

Quizplus · Accepted Answer

The exchange of partnership interests does not qualify for like-kind exchange treatment under Section 1031 of the Internal Revenue Code. Like-kind exchanges generally apply to real property and not to partnership interests.

The Exchange of Partnership Interest Can Usually Qualify for the Like-Kind