If you exchange your business property or property you hold for investment solely for property of a like kind to be used in your business or to be held for investment, no gain or loss is recognized. This means that the gain is not taxable and the loss is not deductible.
Aaron Holmes Gwin is an American professional downhill mountain biker from Morongo Valley, California. He is a four-time World Cup overall champion.
In an interview with Greg Minnaar at Soho Bikes in London Rob Warner has suggested that Aaron Gwin will not be riding for Specialized next year. At 11 minutes in the above video, the pair are discussing whether Gwin would beat Minnaarâs all-time wins record and Warner said: âHeâs going alright, new bike for him next yearâ.