LIKE-KIND PROPERTY
like-kind property. Tax. Property that is of such a similar kind, class, or character to other property that a gain from an exchange of the property is not recognized for federal income-tax purposes. See LIKE-KIND EXCHANGE. [Cases: Internal Revenue 3184. C.J.S. Internal Revenue ¡ì¡ì 120¨C121, 124.]
What is the legal equivalent of the term LIKE-KIND PROPERTY in Chinese?
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