LO.5 When no boot is given or received in a like-kind exchange, the basis of the property

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LO.5 When no boot is given or received in a like-kind exchange, the basis of the property received is the same as the basis of the property transferred. What effect does the receipt of boot have on the basis of the like-kind property received? What if boot is given?

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South Western Federal Taxation 2011 Taxation Of Business Entities

ISBN: 9780538498616

14th Edition

Authors: James E. Smith, William A. Raabe, David M. Maloney

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