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The exchange of one asset for a substantially similar asset, which is generally a non-taxable event (unless there is boot, in which event some portion is typically taxable). See Section 1031.
Synonyms: 1031 exchange, 1031 exchanges, like kind exchange, like kind exchanges, like-kind exchanges
Synonyms list (a comma-separated list)
1031 exchange, 1031 exchanges, like kind exchange, like kind exchanges, like-kind exchanges