[mehmeta]

Excellent post overall, very helpful.

>> However, if I exchange my apartment for your car, then it's not a like-kind exchange, because the items exchanged are not of like kind (makes sense?), and both parties pay capital gains (or can claim a loss) vs. the fair market value of the exchange.

You probably can't claim a capital loss for a car as you can only claim it for things you hold for investment purposes. Since the car's depreciation is expected to be because of personal use you can't claim loss on it whereas if it were to increase for some reason (memorabilia) you'd have to pay gains.

[URSpider94]

Fair point, I'd have to be holding the car for investment purposes, or using it as a business asset, not using it for personal transport.