1031 Vocabulary
Section 1031
A provision of the Internal Revenue Code providing that no gain or loss shall be recognized on the exchange of property held for the productive use in a trade or business or for investment for like-kind property to be held for the productive use in a trade or business or for investment.
 
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Thursday, 20 November 2008
Identification period PDF Print E-mail
The forty-five day period beginning the day following the transfer of relinquished property and ending at midnight on the forty-fifth day.  During the identification period, the exchanger must identify replacement property to successfully complete a section 1031 exchange.
 
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