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Can a loss on a like-kind exchange be recognized?

A taxpayer who realizes a loss on the exchange of like-kind property can elect to recognize the loss.

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"Generally, if you exchange business or investment property solely for business or investment property of a like kind, Section 1031 provides that no gain or loss is recognized. If, as part of the exchange, you ...

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The 148 word cited solution explains the rules about recognizing a loss on a like-kind exchange.

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