The US treasury department has now released proposed regulations in relation to changes to Like-Kind exchanges.
In Summary TCJA amended Section 1031 to limit its application to exchanges of real property. Deferral under section 1031, however, is not allowed for an exchange of real property held primarily for sale.
The proposed regulations add a definition for real property and address the receipt of personal property that is incidental to the real property exchange.
In the past the like-exchange rules applied to artwork and other collectibles for example.