Like-kind exchanges will only now be applicable to real estate property only.  This excludes machinery equipment, vehicles, patents, and other intellectual property, artwork, collectibles, and other intangible business assets. 

In light of the increased and expanded bonus depreciation rules and section 179 expensing rules for tangible personal property and certain building improvements, Congress believed that section 1031 should be limited to exchanges of real property not held for primary sale.

A special rule for foreign real property.  Real property located in the United States and real property located outside the United States is not a property of like-kind.

We see like-kind exchanges for automobiles often preparing business returns.  The rules were much easier since an intermediary was not necessary.  However, the new rules do not allow for a like-kind exchange for automobiles.  There could be gain (loss) considerations.