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3. Which of the following is true? a. Any realized loss in like-kind exchange is not recognized for tax purpose. b. The basis of property

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3. Which of the following is true? a. Any realized loss in like-kind exchange is not recognized for tax purpose. b. The basis of property received through inheritance is decedent's basis. c. $1231 loss is long-term capital loss d. $1231 property includes accounts receivables from the ordinary course of busines

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