Personal Property

Personal property exchanges are a vital and growing area of IRC Section 1031. Anyone thinking of disposing of personal property that is held for business or investment purposes should consider and utilize the benefits of a tax-deferred exchange.

Depreciable tangible personal property held for productive use in a trade or business or for investment may be exchanged for other personal property that is "like-kind" or "like-class". Property that is like class must either comply under the regulation's listing of General Asset Classes or fall within the same Product Class as listed in the Office of Management and Budget Standard Industrial Classification Manual (SIC Codes).

Exchange Services Group specializes in facilitating all types of personal property exchanges. Our exchange experts have extensive experience in helping taxpayers structure their personal property exchanges from single asset transfers to complex multi-asset exchanges. Exchange Services Group can work with you to develop your personal property exchange within the requirements of the tax code to best utilize all the assets from your sale.

If you would like more information about how Exchange Services Group can assist you, please call John Lamberts toll free at 1-800-560-8485.