Have a Tax Question? Ask a Tax Expert
You might asking about section 1031 like-kind exchange that allows to defer (not avoid!) tax liability realized from selling some business or investment assets.
Yes - that is possible.The "business" itself is not qualified asset for section 1031, but teh business is normally a set of assets and some might qualify.
For instance if you have a real estate as a part of your business that you are selling - and you may defer the gain realized of that rear estate by purchasing another real estate which will be used for business or rental.
So - if you list assets which constitute your sale - we may verify if any assets qualify for section 1031.
Here is actual statute
(1) In general
No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use in a trade or business or for investment.