24. LO.3 Aliya held vacant land that qualified as an investment asset. She purchased the vacant land
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24. LO.3 Aliya held vacant land that qualified as an investment asset. She purchased the vacant land on April 10, 2017. She exchanged the vacant land for a rental house in a qualifying like-kind exchange on January 22, 2021. Aliya was going to hold the house for several years and then sell it. However, she got an “offer she could not refuse” and sold it on November 22, 2021, for a substantial gain. What was Aliya’s holding period for the house?
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Related Book For
Essentials Of Taxation Individuals And Business Entities
ISBN: 233160
1st Edition
Authors: Nellen/Young/Raabe/Maloney
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