In an exchange Archie gave up his fully depreciated business use dump truck (DMV 15,000) and 5000 for a newer business use dump truck (DMV 20,000) The exchange was completed on January 12, 2018. Which of the following statements is TRUE In regard to Archies exchange of business property?

1) Archie will not be 5defer a gain on his ex

The arrest lose the prod The next future yestos Last years and ending with from the h o use Mark for follow up S tor nove e s Question 17 of 75. In an exchange, Archie gave up his fully depreciated business use dump truck FM 115.000) business-use dump truck (M $20,000). The exchange was completed on January 12, 2016. statements is TRUE in regard to Archie's exchange of business-UBO property? O Archie will not be able to defer a gain on his exchange because teging in tax years after December 20 1 0 like-kind exchanges only apply to exchanges of real property Archie exchanged business-use property for another property that was also business-use, so he will be able to use the kind exchange treatment to defer his gain. O Beginning after December 2018, Archie will be able to use Section 1031 We-kind exchange treatment on personal and Intangible property. O Archie sold the business-use property in 2018 during the transition period for like-kind exchanges that are not real property exchanges. Mark for follow up Question 18 of 75. A business-use car held long-term and sold at a LOSS is treated as what Section property