Chapter 28: Nontaxable Exchanges and Involuntary Conversions

In this section

• Like-Kind Exchanges (Section 1031): Requirements and Limitations
  Learn how Section 1031 exchanges enable tax deferral through like-kind property replacement, including timelines, qualified intermediaries, partial exchanges with boot, and key compliance strategies.
• Involuntary Conversions (Section 1033): Calculating Deferred Gains
  Explore Section 1033 involuntary conversions—covering condemnation, casualty, and theft scenarios—and learn how to calculate and defer gains by properly applying replacement rules.
• Basis of Replacement Property
  Learn how newly acquired property’s basis is adjusted for deferred or partially recognized gains under Sections 1031 and 1033, complete with practical examples, diagrams, and key CPA Exam insights.
• Planning Implications of Deferred Gains
  Learn how deferral can shift tax burdens and plan for future dispositions in Section 1031 exchanges, involuntary conversions, and more.