### PART III—COMMON NONTAXABLE EXCHANGES

Sec.
1031.
Exchange of real property held for productive use or investment.
1032.
Exchange of stock for property.
1033.
Involuntary conversions.
[1034.
Repealed.]
1035.
Certain exchanges of insurance policies.
1036.
Stock for stock of same corporation.
1037.
Certain exchanges of United States obligations.
1038.
Certain reacquisitions of real property.
[1039.
Repealed.]
1040.
Transfer of certain farm, etc., real property.
1041.
Transfers of property between spouses or incident to divorce.
1042.
Sales of stock to employee stock ownership plans or certain cooperatives.
1043.
Sale of property to comply with conflict-of-interest requirements.
[1044.
Repealed.]
1045.
Rollover of gain from qualified small business stock to another qualified small business stock.

#### **Editorial Notes**

#### Amendments

**2017**—Pub. L. 115–97, title I, §§13303(b)(6), 13313(a), Dec. 22, 2017, 131 Stat. 2124, 2133, substituted "Exchange of real property held for productive use or investment" for "Exchange of property held for productive use or investment" in item 1031 and struck out item 1044 "Rollover of publicly traded securities gain into specialized small business investment companies".

**2010**—Pub. L. 111–312, title III, §301(a), Dec. 17, 2010, 124 Stat. 3300, amended analysis to read as if amendment by Pub. L. 107–16, §542(d)(2), had never been enacted. See 2001 Amendment note below.

**2001**—Pub. L. 107–16, title V, §542(d)(2), June 7, 2001, 115 Stat. 84, substituted "Use of appreciated carryover basis property to satisfy pecuniary bequest" for "Transfer of certain farm, etc., real property" in item 1040.

**1997**—Pub. L. 105–34, title III, §§312(d)(15), 313(b)(3), Aug. 5, 1997, 111 Stat. 841, 842, struck out item 1034 "Rollover of gain on sale of principal residence" and added item 1045.

**1993**—Pub. L. 103–66, title XIII, §13114(c), Aug. 10, 1993, 107 Stat. 431, added item 1044.

**1990**—Pub. L. 101–508, title XI, §11801(b)(8), Nov. 5, 1990, 104 Stat. 1388–522, struck out item 1039 "Certain sales of low-income housing projects".

**1989**—Pub. L. 101–194, title V, §502(b)(3), Nov. 30, 1989, 103 Stat. 1755, added item 1043.

**1986**—Pub. L. 99–514, title XVIII, §1854(a)(12), Oct. 22, 1986, 100 Stat. 2878, substituted "employee stock ownership plans or certain cooperatives" for "employees" in item 1042.

**1984**—Pub. L. 98–369, div. A, title IV, §421(c), title V, §541(b)(3), July 18, 1984, 98 Stat. 794, 890, added items 1041 and 1042.

**1981**—Pub. L. 97–34, title IV, §421(j)(2)(C), Aug. 13, 1981, 95 Stat. 312, substituted "Transfer of certain farm, etc., real property" for "Use of farm, etc., real property to satisfy pecuniary bequest" in item 1040.

**1980**—Pub. L. 96–223, title IV, §401(a), (c)(2)(B), Apr. 2, 1980, 94 Stat. 299, 300, amended item 1040 generally and repealed Pub. L. 94–455, §2005(e)(1), and the amendment made thereby. See 1976 Amendment note below.

**1978**—Pub. L. 95–600, title IV, §405(c)(2), Nov. 6, 1978, 92 Stat. 2871, substituted "Rollover of gain on sale of principal residence" for "Sale or exchange of residence" in item 1034.

**1976**—Pub. L. 94–455, title XX, §2005(e)(2), Oct. 4, 1976, 90 Stat. 1878, which added item 1040, was repealed by Pub. L. 96–223, §401(a). See section 401(b), (e) of Pub. L. 96–223, set out as an Effective Date of 1980 Amendments and Revival of Prior Law note under section 1023 of this title.

**1969**—Pub. L. 91–172, title IX, §910(c), Dec. 30, 1969, 83 Stat. 722, added item 1039.

**1964**—Pub. L. 88–570, §2(b), Sept. 2, 1964, 78 Stat. 856, added item 1038.

**1959**—Pub. L. 86–346, title II, §201(b), Sept. 22, 1959, 73 Stat. 623, added item 1037.