[Verse 1] Sarah swapped her downtown lot for mountain acreage fair Real estate for real estate, no taxes in the air Section ten-thirty-one protects this like-kind trade But after Tax Cuts Jobs Act, only dirt and buildings stayed [Chorus] Four paths to dodge the taxman's call Like-kind, involuntary, principal home, installment all Ten-thirty-one, ten-thirty-three, one-twenty-one, four-fifty-three These numbers hold the golden key to nonrecognition spree [Verse 2] Lightning struck Tom's warehouse down, insurance paid him well Bought replacement property before the deadline bell Section ten-thirty-three says gains can hide away When disaster forces sales but reinvestment saves the day [Chorus] Four paths to dodge the taxman's call Like-kind, involuntary, principal home, installment all Ten-thirty-one, ten-thirty-three, one-twenty-one, four-fifty-three These numbers hold the golden key to nonrecognition spree [Verse 3] Maria sold her family home where twenty years she dwelt Two-fifty thousand dollars of gain she'll never felt Section one-twenty-one excludes her housing profit clean If ownership and residence tests both have been seen [Bridge] Payments spread across the years make installment sales shine bright Four-fifty-three lets gains defer to match the cash in sight Spouses trading assets free from recognition's sting Ten-forty-one protects them both from tax law's bitter ring [Chorus] Four paths to dodge the taxman's call Like-kind, involuntary, principal home, installment all Ten-thirty-one, ten-thirty-three, one-twenty-one, four-fifty-three These numbers hold the golden key to nonrecognition spree [Outro] When gains arise but cash stays low These four exceptions steal the show
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