If Sarah Palin auctioned the governor’s plane on eBay, then there is a good chance that it was an investor who bought it as part of a 1031 Exchange of personal property.
Tell me what personal property you have seen exchanged in a 1031 Tax Deferred Exchange.
Can Western saddles be exchanged for English saddles? If not, let’s get more specific.
Can dressage saddles be exchanged for jumping saddles?
Can registered Quarter Horses be exchanged for Swedish Warmbloods?
You laugh, but this could be important if someone sells a ranch or a dressage farm.