January 2024

The "State of the Art" in Like-Kind Exchanges

Journal of Taxation
Todd Denison Keator

Tax attorney Todd Keator co-authored an article for the Journal of Taxation that reviews IRS guidance, legislation and case law on 1031 exchanges. These exchanges, also called "like-kind exchanges," allow taxpayers to exchange one real property investment for another in a tax-deferred manner, and they are regulated under Section 1031 of the Internal Revenue Code. In this article, the authors examine changes to Section 1031 under the Tax Cuts and Jobs Act (TCJA) that clarify the definition of "real property," major developments in the "like-kind" analysis, cautionary tales involving failed exchanges and updates on Delaware Statutory Trust (DST) structures, planning and guidance.

READ: The "State of the Art" in Like-Kind Exchanges

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