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Jackson owns a rental home in Florida. He decided that he would like to acquire a rental home in Colorado. Kade has a rental home
Jackson owns a rental home in Florida. He decided that he would like to acquire a rental home in Colorado. Kade has a rental home in Colorado. For health purposes, Kade must relocate to Florida. Jackson and Kade decide to exchange properties under Section 1031 of the code. The other facts pertaining to the exchange are:
Kades basis = $100,000
Jacksons basis = $75,000
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