Indiana § 6-1.1-3-2.5 Like kind exchanges of depreciable personal property

Indiana Statutes

§ 6-1.1-3-2.5 — Like kind exchanges of depreciable personal property

Indiana § 6-1.1-3-2.5

Art. 1.1PROPERTY TAXES

Ch. 3Procedures for Personal Property Assessment

This text of Indiana § 6-1.1-3-2.5 (Like kind exchanges of depreciable personal property) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-1.1-3-2.5 (2026).

Text

5.

(a)This section applies to a like kind exchange of depreciable personal property for which:

(1)the exchange would have been eligible for nonrecognition of gain or loss under Section 1031 of the Internal Revenue Code in effect on January 1, 2017;

(2)the exchange is not eligible for nonrecognition of gain or loss under Section 1031 of the Internal Revenue Code currently in effect; and

(3)the taxpayer made an election to take deductions under Section 179 or Section 168(k) of the Internal Revenue Code with regard to the acquired property in the year that the property was placed into service.

(b)In determining the cost of the depreciable personal property described in subsection (a) that is used to determine the value of the depreciable personal property subject to an assessment, the ac

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5. (a) This section applies to a like kind
exchange of depreciable personal property for which:
(1) the exchange would have been eligible for nonrecognition of
gain or loss under Section 1031 of the Internal Revenue Code in
effect on January 1, 2017;
(2) the exchange is not eligible for nonrecognition of gain or loss
under Section 1031 of the Internal Revenue Code currently in
effect; and
(3) the taxpayer made an election to take deductions under
Section 179 or Section 168(k) of the Internal Revenue Code with
regard to the acquired property in the year that the property was
placed into service.
(b) In determining the cost of the depreciable personal property
described in subsection (a) that is used to determine the value of the
depreciable personal property subject to an assessment, the acquisition
cost of the depreciable personal property acquired in the like kind
exchange shall be reported as:
(1) the net book value of the depreciable personal property traded
in; plus
(2) any cash boot added to the exchange;
as if the exchange was eligible for nonrecognition of gain or loss under
Section 1031 of the Internal Revenue Code in effect on January 1,
2017.