In the decades since the like-kind exchange provision1 was enacted, the concept has become popular among property owners. Indeed, the concept has become so popular that calls are being heard for the Internal Revenue Code sections to be limited or evenrepealed. Those sentiments appear to be driven primarily by concerns over the impacts of like-kind exchanges on land values.This article discusses the like-kind exchange provision and offers a suggestion to amend the like-kind exchange rules if change gains support in Congress sufficient for amending legislation to be passed.
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