Most people associate 1031 exchanges with real estate. And while a large number of 1031 exchanges do involve real estate, it is not the only type of business or investment property that qualifies for an exchange.
Some examples of other exchangeable assets include:
- Farm and agriculture equipment
- Manufacturing equipment
- Construction equipment
- Cars, trucks, tractors, and trailers
- Aircraft and aircraft engines
- Rail cars and locomotives
- Maritime vessels, barges, and tug boats
- Oil & gas and mineral interests
- Art and collectibles
The majority of qualified intermediaries focus only on 1031 real estate exchanges, but NES Financial is well versed in conducting exchanges of all kinds, including forward, reverse, program, and specialty. Our general counsel even developed significant 1031 guidance during her tenure at the IRS National Office in Washington, D.C.
Find out if your asset qualifies for a 1031 exchange by contacting us today!
What is a 1031 exchange? Find out more by downloading our 1031 Exchange Kit.