Multiple Choice
Which of the following statements is correct with respect to the deferral provisions of the tax law?
A) The like-kind exchange provision is elective.
B) The involuntary conversion provision is elective.
C) The exclusion of gain on the sale of a personal residence is elective.
D) Both the like-kind exchange and the involuntary conversion provisions are elective.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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