Tyson Had a Parcel of Undeveloped Investment Land That He

question 102

Essay

Tyson had a parcel of undeveloped investment land that he wanted to trade for a warehouse to be used in his business. He found a buyer willing to pay him $450,000 for the land. He transferred the land to a third party intermediary on April 1st of the current year. On May 10th, with the help of a commercial real estate agent, Tyson identified two suitable warehouses. On August 10th he made an offer on the first building which was rejected. On August 13th an offer was accepted on the second warehouse. On September 23rd the third party intermediary transferred $500,000 ($450,000 from the original property plus $50,000 from Tyson) to the seller and conveyed title to the warehouse to Tyson. Explain whether the exchange of property qualifies as a like-kind exchange.

---

Definitions:

Physical Carcinogen

A substance or agent that, through physical interaction or exposure, can lead to the development of cancer.

Familial Carcinogenesis

The process by which cancer is caused due to genetic predispositions passed down through family lines.

Persistent Diarrhea

Diarrhea that continues for an extended period, often defined as lasting more than two weeks, indicating potential underlying health issues.

Yeast Infection

An infection caused by the overgrowth of yeast, a type of fungus, commonly affecting areas like the mouth, throat, and genitals.