like-kind property

like-kind property definition - business

like-kind property

Investment assets that are similar in nature and can be exchanged without an immediate tax consequence. The definition of like-kind property is fairly broad for real property but more narrowly defined for personal property of a business.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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