منقول
To qualify for Section 1031 of the Internal Revenue Code, the properties exchanged must be held for productive use in a trade or business, or for investment. Prior to 2018, stocks, bonds, and other properties were listed as expressly excluded by Section 1031 of the Internal Revenue Code, although securitized properties were not excluded. Today, only real property is included under Section 1031. The properties exchanged must be of "like kind", "i.e.", of the same nature or character, even if they differ in grade or quality (such as one commercial apartment to another). Personal properties of a like class were like-kind properties under the pre-2018 provisions. Personal property used predominantly in the United States and personal property used predominantly elsewhere were not like-kind properties.