It is not possible for a taxpayer to recognize both again and a loss in the same like-kind transaction True False Question 7 (0.5 points) Listen In a like-kind exchange, taking on another party's liability may require recognizing a gain. True False Question 8 (0.5 points) Listen A corporation owns land with a FV of 10. During the year, the fair value increases to 15. The corporation has a realized gain of 5. True False