The exchange of unimproved real property located in Topeka (KS)for improved real property located in Atlanta (GA)qualifies as a like-kind exchange.

Question

Quizplus · Accepted Answer

The exchange of unimproved real property for improved real property can still qualify as a like-kind exchange as long as both properties are used for investment or business purposes. The fact that they are located in different states (Topeka, KS and Atlanta, GA) does not affect their eligibility for like-kind exchange treatment.

The Exchange of Unimproved Real Property Located in Topeka (KS)for