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Vijay owns land (adjusted basis of $175,000) that he uses in his business. He exchanges the land and $87,500 in cash for a different
Vijay owns land (adjusted basis of $175,000) that he uses in his business. He exchanges the land and $87,500 in cash for a different parcel of land worth $210,000. a. Vijay has a realized loss of s b. Can Vijay avoid like-kind exchange treatment and recognize his realized loss? because the 51031 like-kind exchange provision Therefore, Vijay the Yes No
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