| The IRS has ruled that a Real Estate can be acquired in a Tax Free Exchange!
The IRS has ruled in a private ruling that "a real estate partnership may be acquired in a tax free exchange."
The IRS will accept a real estate firm’s swap which would be "rental property used in its own business in exchange for 100% of a partnership that owns other real estate."
The acquiring entity would receive the entire partnership, treating it for tax purposes as if it received the partnership’s assets, which in this case would be real estate and because property was swapped, clearly there would be no capital gains and hence there would be no tax liability! | 
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