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Author Question: In a nontaxable exchange, Henri traded in a truck having an adjusted basis of $8,500 and a FMV of ... (Read 69 times)

armygirl

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on: Sep 13, 2020

Question 1

If there is a like-kind exchange of property between related parties, how long do they have to wait to dispose of the property received in order to avoid having to recognize any gain on the exchange?
◦ 6 months
◦ 1 year
◦ 2 years
◦ no waiting period

Question 2

In a nontaxable exchange, Henri traded in a truck having an adjusted basis of $8,500 and a FMV of $10,000, for a new truck having a FMV of $15,000. In addition, Henri paid cash of $5,000. What is Henri's basis in the new truck?
◦ $5,000
◦ $8,500
◦ $13,500
◦ $15,000
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by armygirl on Sep 13, 2020

frogdreck123456

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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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armygirl

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

amynguyen1221

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Reply 3 on: Yesterday
Excellent

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