In a Notice which has received relatively little attention, the Internal Revenue Service on January 4, 2000, issued new guidance on handling depreciation following a like-kind exchange or involuntary conversion. Thus, the new rules apply to machinery and equipment trades, like-kind exchanges of farmland and other property and reinvestment following a fire or other involuntary conversion.
"New Rules In Handling Trades,"
Agricultural Law Digest: Vol. 11
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol11/iss14/1