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please explain answer In determining the basis of like-kind property received, postponed losses are: a. Added to the basis of the old property. b. Subtracted

please explain answer
In determining the basis of like-kind property received, postponed losses are:
a. Added to the basis of the old property.
b. Subtracted from the basis of the old property.
c. Added to the fair market value of the like-kind property received.

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