In a Nontaxable Exchange, the Replacement Property Is Assigned a Carryover

question 47

True/False

In a nontaxable exchange, the replacement property is assigned a carryover basis if there is a realized gain but receives a new basis if there is a realized loss.

---

Definitions:

Carotid Arteries

The major arteries located on each side of the neck that supply blood to the brain, neck, and face.

Capillary Refill

A test to assess blood circulation, where pressure is applied to a nail bed until it turns white, and the time is measured until color returns.

Sinoatrial (SA) Node

The heart's natural pacemaker, responsible for initiating the electrical impulses that determine heart rate.

Cardiac Output

The volume of blood the heart pumps per minute, which is crucial for maintaining blood flow to the body.