Following passage of the Tax Cuts and Jobs Act (TCJA), tax professionals have questioned whether the identification of tangible personal property, in cost segregation studies, now negatively affects like kind exchanges. Under 13303 of the TCJA, 1031 now restricts like kind exchanges to real property, i.e. personal property may no longer be exchanged. However, it's not nearly as onerous as it sounds. Most tax professionals have taken one of two competing approaches to interpreting how this impacts cost segregation studies. Click here to read our analysis.