Deferred Like-Kind Exchanges.

The article reports on the conditions required for taxpayers to qualify a transaction as a deferred-like exchange under the U.S. Internal Revenue Code section 31. Under the IRC section 31, the conditions are the following: the replacement property must be determined within 45 days and the taxpayer must get the replacement property by the earlier of the due date of his or her income tax return or 180 days after the transfer. If the taxpayer's return is due before 180 days after the property transfer, he or she must apply for a filing extension in order to have the whole 180 days to get the replacement property.