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    Federal Taxation
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    Exam 28: Property Transactions: Nontaxable Exchanges
  5. Question
    The Basis of Non-Like-Kind Property Received in an Otherwise Nontaxable
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The Basis of Non-Like-Kind Property Received in an Otherwise Nontaxable

Question 78

Question 78

True/False

The basis of non-like-kind property received in an otherwise nontaxable exchange is the basis in the hands of the transferor at the date of the exchange.

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