The only way to understand it: You’re swapping a person assets for another, and in doing this, the second assets assumes the expense foundation of the main property. The code is meant to aid the reinvestment from 1 bit of housing into One more, but Consistent with the like-kind prerequisite, https://angelonmkba.yomoblog.com/42456887/how-1031-loan-can-save-you-time-stress-and-money