6) All of the following are true except A) A nonsimultaneous exchange may never qualify as a like-kind exchange. B) Nonrecognition of gains and losses is mandatory if the exchange is a like-kind C) A loss may be recognized on non-like-kind property (boot) if the taxpayer transfers D) The holding period of like-kind property received includes the holding period of the exchange. the boot in an otherwise like-kind exchange. property exchanged