Open Access. Powered by Scholars. Published by Universities.®

Education Commons

Open Access. Powered by Scholars. Published by Universities.®

PDF

Book Gallery

Rural Tax Education

Assets

Articles 1 - 1 of 1

Full-Text Articles in Education

Like-Kind Exchange (Trade) Of Business Assets, Guido Van Der Hoeven Aug 2010

Like-Kind Exchange (Trade) Of Business Assets, Guido Van Der Hoeven

Rural Tax Education

During the course of operating a farm or ranching business, operators will dispose of property used in the business. Disposition can occur in a variety of ways. A sale and/or trade (like-kind exchange) of property are two common methods of disposition. The purpose of this discussion is to illustrate correct income tax reporting procedures when business properties are disposed of over the course of time through like-kind exchanges.

This discussion will focus on the like-kind exchange of tangible personal property (i.e. equipment and vehicles) commonly known as trade-ins. The point of the discussion is to bring readers a ...