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(TCO I) Which of the following statements concerning property qualifying for like-kind exchange treatment is incorrect? The property must be held for productive use in

(TCO I) Which of the following statements concerning property qualifying for like-kind exchange treatment is incorrect?

The property must be held for productive use in a trade or business or for investment.

The transfer of partnership interests qualify for like-kind exchange treatment.

The exchange of inventory for a business automobile does not qualify for like-kind exchange treatment.

The exchange of unimproved property for improved property qualifies for like-kind exchange treatment.

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