Question
Question 1091 pts Brock completed a qualified Section 1031 Like-Kind Exchange with his rental house. He sold his rental house in California pursuant to Section
Question 1091 pts
Brock completed a qualified Section 1031 Like-Kind Exchange with his rental house. He sold his rental house in California pursuant to Section 1031, and purchased a new rental house in Ohio. Brock must file a Franchise Tax Board Form 3840 documenting the Section 1031 Like-Kind Exchange of his rental house for how many years?
Group of answer choices
Only for the tax year that the rental house was sold
Every year until the rental house in Ohio has been sold or exchanged.
The tax year the rental house was sold, and for the subsequent two tax years.
No requirement to report the Section 1031 Like-Kind Exchange to the State of California.
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Financial Auditing With Information Technology Meeting The Challenge Of Cloud Computing Unstructured Data And Intangible Assets
Authors: J. Christopher Westland
1st Edition
149044873X, 978-1490448732
