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Which is true regarding a like-kind exchange? a. Group of answer choices b. Personal-use assets qualify. c. Stocks and bonds qualify. d. Non like-kind property

Which is true regarding a like-kind exchange?

a. Group of answer choices

b. Personal-use assets qualify.

c. Stocks and bonds qualify.

d. Non like-kind property is considered boot.

A taxpayer must elect for the like-kind provisions to apply.

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