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John wants property owned by Charles, but Charles does not want to recognize gain on the sale of this property. John does not have property
John wants property owned by Charles, but Charles does not want to recognize gain on the sale of this property. John does not have property to exchange with Charles. What do you advise John and Charles so that John may acquire the property and Charles may defer gain recognition? What specific requirements must be met? Why are you concerned about the due date of Charles tax return?
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