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  3. Study Set
    Federal Taxation
  4. Exam
    Exam 15: Property Transactions: Nontaxable Exchanges
  5. Question
    Abby Exchanges an SUV That She Has Held for Personal
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Abby Exchanges an SUV That She Has Held for Personal

Question 9

Question 9

True/False

Abby exchanges an SUV that she has held for personal use plus $24,000 for a new SUV that she will use exclusively in her business.This exchange qualifies for nontaxable exchange treatment.

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