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I have capital gains from the sale of mutual funds that were immediately reinvested in other funds. How do I claim a 1031 like kind exchange to exclude the capital gains?
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You cannot claim a 1031 like kind exchange for the sale and repurchase of mutual funds. Although mutual funds have never qualified, like-kind exchange treatment now applies only to exchanges of real property that is held for use in a trade or business or for investment, as a result of The Tax Cuts and Jobs Act.
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