TaxGuyBill
Level 15
10-01-2021
03:21 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
@dascpa wrote:
The above answer is incorrect. Effective 2018 like-kind exchanges of personal property no longer qualify, therefore the concept of trade-in deferral no longer exists (horrible on vehicles) therefore it is treated as a sale of the old and purchase of the new.
The question and answer were dealing with the STATE, which apparently still does allow it.