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Sheena Maskell Sheena Maskell
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7 years ago
Which of the following statements with respect to a like-kind exchange is false?
A) Property of one class must be exchanged for property of the same class.
B) An exchange of inventory does not qualify as a like-kind exchange.
C) Personal property must be exchanged for personal property.
D) Sale of property and subsequent purchase of like-kind property will always qualify as a like-kind exchange.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
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MsLippyMsLippy
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Sheena M. Author
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Perfect Person Raising Both Hands in Celebration
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