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    Federal Taxation
  4. Exam
    Exam 28: Property Transactions: Nontaxable Exchanges
  5. Question
    A Taxpayer Conducts a Qualifying Like-Kind Exchange
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A Taxpayer Conducts a Qualifying Like-Kind Exchange

Question 46

Question 46

True/False

A taxpayer conducts a qualifying like-kind exchange.There is no boot involved in the transaction.The basis of the property received will equal the adjusted basis of the property exchanged.

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