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Author Question: Which of the following statements isnottrue with regard to like-kind exchanges? (Read 60 times)

theo

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on: Sep 13, 2020
Which of the following statements is not true with regard to like-kind exchanges?
◦ Nonrecognition of gains and losses is mandatory if the exchange is a like-kind exchange.
◦ The holding period of like-kind property received includes the holding period of the property exchanged.
◦ A loss is always recognized if the taxpayer transfers non-like-kind personal use property (e.g. a personal use car) in an otherwise like-kind exchange.
◦ The basis of property received in an exchange is equal to the basis of the property exchanged less the boot received plus the gain recognized and less any loss recognized.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by theo on Sep 13, 2020

epscape

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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theo

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

sultansheikh

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Reply 3 on: Yesterday
:D TYSM

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