CCH Federal Taxation Basic Principles
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Examples: Real for real is OK (e.g., timberland for a bowling alley). Tangible personal for tangible personal may be OK (e.g., printer for a computer is OK since both properties fall within the same General Asset Class described below; a computer for a delivery truck is NOT OK since they fall within different General Asset Classes.) Personal for real, or vice versa, is NOT OK (e.g., delivery truck for a warehouse). Inventory for anything is NOT OK (e.g., computer held for resale in exchange for a computer used in an accounting department). Personal-use property for anything is NOT OK (e.g., a principal residence for a rental home).
Like-Kind Exchanges—Tangible Property
Chapter 11, Exhibit 10b