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In determining the basis of like-kind property received, postponed losses are: A. Added to the fair market value of the like-kind property received B. Added

In determining the basis of like-kind property received, postponed losses are:

A. Added to the fair market value of the like-kind property received

B. Added to the basis of the old property

C. Subtracted from the fair market value of the like-kind property received

D. Subtracted from the basis of the old property

E. None of the above

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