Like-kind Exchanges Three-party Exchanges Three parties may be involved in a simultaneous or non-simultaneous like-kind exchange Finding a suitable exchange property may be difficult
Like-kind Exchanges Three-party Exchanges • Three parties may be involved in a simultaneous or non-simultaneous like-kind exchange • Finding a suitable exchange property may be difficult
Like-kind Exchanges Receipt Of Boot Gain is recognized to extent of boot received, limited by realized gain Loss is never recognized Boot is any non qualifying property Mortgages are offset to determine if there is net boot
Like-kind Exchanges Receipt Of Boot • Gain is recognized to extent of boot received, limited by realized gain – Loss is never recognized • Boot is any nonqualifying property • Mortgages are offset to determine if there is net boot