LO.2 Which of the following qualify as like-kind exchanges under 1031? a. Improved for unimproved real
Question:
LO.2 Which of the following qualify as like-kind exchanges under ยง 1031?
a. Improved for unimproved real estate.
b. Vending machine (used in business) for inventory.
c. Rental house for personal residence.
d. Business equipment for securities.
e. Warehouse for office building (both used for business).
f. Truck for computer (both used in business).
g. Rental house for land (both held for investment).
h. Ten shares of stock in Blue Corporation for 10 shares of stock in Red Corporation.
i. Office furniture for office equipment (both used in business).
j. Unimproved land in Jackson, Mississippi, for unimproved land in Toledo, Spain.
k. General partnership interest for a general partnership interest.
l. Limited partnership interest for a limited partnership interest.
m. Limited partnership interest for a general partnership interest.
Step by Step Answer:
South Western Federal Taxation 2013 Individual Income Taxes
ISBN: 9781133189558
36th Edition
Authors: William Hoffman, James E. Smith