A fundamental prerequisite for a property swap to quality for tax-deferred Section 1031 like -kind exchange treatment is:

A The relinquished property (and the relinquished property only) must have been held for business or investment purposes

B. The replacement property (and the replacement property only) must have been held for business or investment purposes

C. The relinquished property must have been held for business or investment purposes and the taxpayer must intend to hold the at time of the swap replacement property for business or investment purposes at the time of the swap.

D. The replacement property must be new rather than used property