If There Is a Like- Kind Exchange of Property Between

question 1875

Multiple Choice

If there is a like- kind exchange of property between related parties, how long do they have to wait to dispose of the property received in order to avoid having to recognize any gain on the exchange?

• A) 2 years
• B) 6 months
• C) 1 year
• D) no waiting period

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Definitions:

24-Hour Rolling Claims

Claims process in healthcare that involves submitting insurance claims within 24 hours of a patient's visit to ensure timely filing and potentially faster reimbursement.

UB-04 Form

A standard claim form used by hospitals, nursing facilities, and other inpatient providers to bill medical insurance plans, including Medicare and Medicaid.

CMS-1450

A standard form used in the United States for billing Medicare and Medicaid services, also known as the UB-04 form.

Clearinghouse

A private or public company that often serves as the middleman between physicians and billing groups, payers, and other health care partners for the transmission and translation of electronic claims information into the specific format required by payers.