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    Business
  3. Study Set
    Federal Taxation
  4. Exam
    Exam 15: Property Transactions: Nontaxable Exchanges
  5. Question
    The Basis of Boot Received in a Like-Kind Exchange Is
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The Basis of Boot Received in a Like-Kind Exchange Is

Question 12

Question 12

True/False

The basis of boot received in a like-kind exchange is its fair market value unless the realized gain is a smaller amount.

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