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    Fundamentals of Taxation
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    Exam 12: Special Property Transactions
  5. Question
    The Adjusted Basis of Property Received in a Like-Kind Exchange
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The Adjusted Basis of Property Received in a Like-Kind Exchange

Question 59

Question 59

True/False

The adjusted basis of property received in a like-kind exchange can be calculated by taking the FMV of the property received less the gain postponed (plus loss postponed).

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