Final answer:
Artwork, collectibles, and inventory do not qualify for like-kind exchange provisions. Real estate and equipment may qualify under certain conditions. Artworks and collectibles are for personal use and appreciation in value, while inventory consists of goods not yet sold by a business.
Step-by-step explanation:
The things that do not qualify under the like-kind exchange provisions include artwork, collectibles, and inventory. Items like real estate and equipment can potentially qualify, depending on specific IRS rules and how they are used in a business or investment context. Artworks and collectibles, such as paintings, jewelry, antiques, and baseball cards, provide personal enjoyment and may appreciate in value but are not eligible for like-kind exchanges. Inventories, which refer to the goods a business has produced but not yet sold, represent short-term assets intended for sale and do not qualify for like-kind exchange treatment.