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CH14:Q:1,2,13 1. Is Section 1031 like-kind exchange treatment an election to be made by the taxpayer or is it mandatory? 2. Is Section 1031

CH14:Q:1,2,13 1. Is Section 1031 like-kind exchange treatment an election to be made by the taxpayer or is it mandatory? 2. Is Section 1031 like-kind exchange a tax-free exchange or is it a tax-deferred exchange? 13. Describe the events that qualify for involuntary conversion treatment.

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