Demetrius sells word processing equipment used in his business to Edith. He then purchases new word processing

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Demetrius sells word processing equipment used in his business to Edith. He then purchases new word processing equipment from Zip Corporation.
a. Do the sale and purchase qualify as a like-kind exchange?
b. When may a sale and a subsequent purchase be treated as a like-kind exchange?
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Federal Taxation 2016 Comprehensive

ISBN: 9780134104379

29th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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