What is boot? How does the receipt of boot affect a like-kind exchange?

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Fundamentals Of Taxation 2015

ISBN: 9781259293092

8th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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Question Posted: Jun 10, 2016 05:36 AM

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How is the basis calculated in a like-kind exchange? How does the receipt of boot affect the basis of the asset received? How does the giving of boot affect the basis of the asset received?
Does the receipt of boot in a transaction that otherwise qualifies as a like-kind exchange always cause the exchange to be at least partially taxable?
What is boot? What effect does boot have on a like-kind exchange?
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What is boot? How does the receipt of boot affect a like-kind exchange?

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The term boot is not used in the Internal Revenue Code or the Regulations but is commonly used in ...View the full answer

Fundamentals Of Taxation 2015

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