The IRS has recently confirmed in a private letter ruling (
PLR 200912004, released on March 20, 2009) that cars and light general purpose trucks ("light-duty trucks") are of
like-kind for purposes of Section 1031. Specifically, the IRS ruled that cars, light general purpose trucks (for use over the road having actual unloaded weight of less than 13,000 pounds) and vehicles that share characteristics of both cars and light general purpose trucks (e.g. crossovers, sport utility vehicles, minivans, cargo vans, and similar vehicles) are of like-kind for purposes of section 1031.