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I have heard of a like-kind rule about real estate, but don't know much about it. I may be selling some rental property in the next few months that I've owned for 15 years. (Did not plan this sale, but now looks probable.) On July 31, 2000, I purchased some land and put two cabins on it for rental. Is there a time limit, or can I somehow use this recent purchase to "replace" the property that is about to sell, having only the 25% depreciation to be concerned with?
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