1031 exchange question

[Nathan Hood]

Hello all,

I have a large sum of money invested in a handful of Paintings.  Is there a way that i could 1031 exchange my sale from my painting right into a property??  Seems like you should be able too but i haven't been able to find any information on it.   If any one has any insight it would be greatly appreciated! 

[Kyle Kadish]

@Nathan Hood prior to changes in the Tax Cut and Jobs Act, taxpayers were able to exchange any like-kind [personal or rea]l property for like-kind (artwork for artwork). Now, the 1031 provisions are exclusive to real property (i.e. real estate).

Depending on the value, you might wish to explore the Deferred Sales Trust strategy which allows for the deferral of gains taxes, while using the proceeds in any manner you wish.