Like-kind exchanges have been available to taxpayers since the 1920’s.  Guidance, however, was mainly in the form of case law. There were no Treasury Regulations to look to for help.  So taxpayers invented their own methods for structuring exchange transactions. Probably the most noted taxpayer in the like-kind exchange realm was T.J. Starker whose activities led to the concept that a taxpayer could sell Relinquished Property today and receive like-kind Replacement Property tomorrow.  Since Starker, we have seen Treasury Regulations adopted, more case law, Revenue Procedures, Revenue Rulings and many Private Letter Rulings.  We invite you to review the reference material in the drop down menu.