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    Federal Taxation
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    Exam 15: Property Transactions: Nontaxable Exchanges
  5. Question
    When Boot in the Form of Cash Is Given in a Like-Kind
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When Boot in the Form of Cash Is Given in a Like-Kind

Question 30

Question 30

True/False

When boot in the form of cash is given in a like-kind exchange, recognized gain is the greater of the boot or the realized gain.

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