The exchange of personal use property whose holding period is long-term for other personal use property (e.g. ,trade-in of personal use automobiles)can qualify as like-kind property if the personal use property received is held long term.

Question

Quizplus · Accepted Answer

Personal use property does not qualify for like-kind exchange treatment under IRS rules, which apply to business or investment property.

The Exchange of Personal Use Property Whose Holding Period Is