Personal property held for productive use in a trade or business or for investment may be exchanged for other personal property of like kind or class. For example, a taxpayer may exchange a business vehicle for other property of like kind for the same use, such as a truck for a new truck or an automobile for a new automobile to be used for a like purpose. Vehicles such as airplanes, boats, buses, and tractors may be traded for vehicles of like kind. Office and manufacturing equipment may also be exchanged for property of like kind.