On June 10, 2017, Ebon, Inc

question 42

Multiple Choice

On June 10, 2017, Ebon, Inc. acquired an office building as a result of a like-kind exchange. Ebon had given up a factory building that it had owned for 26 months as part of the like-kind exchange. Which of the statements below is correct?

• A)The holding period of the factory building includes the holding period of the office building.
• B)The holding period of the office building starts on June 11, 2017.
• C)The holding period of the office building starts on June 10, 2017.
• D)The holding period of the office building includes the holding period of the factory building.
• E)None of the above.